Posted on 06/07/2009 6:52:45 AM PDT by jimbo123
WASHINGTON (Dow Jones)--A group of Indiana pension funds opposed to Chrysler LLC's sale to Fiat SpA (FIATY) on Saturday filed an emergency appeal with the U.S. Supreme Court to stay the sale while they continue their attempts to block it.
The emergency stay request, filed shortly before midnight Saturday, came after the 2nd U.S. Circuit Court of Appeals in New York approved the acquisition of most of Chrysler's assets by a group led by Fiat, the Italian auto manufacturer. A U.S. bankruptcy judge early last week approved the sale.
A coalition of consumer groups lodged a separate stay request early Sunday morning, arguing the sale terms applied to the deal would wrongly shield the new company from injury lawsuits involving current Chrysler vehicles.
(Excerpt) Read more at online.wsj.com ...
Indiana pension funds stay request iling to the Supreme Court here:
http://online.wsj.com/public/resources/documents/indiana.pdf
Yeah, Ruth Ginsberg is gonna hear the emergency appeal.
BTTT. Chrysler’s application to the Supreme Court quotes from some Obama Administration e-mails filed under seal (!) in the bankruptcy court that makes the officials involved look like gangsters. Too bad the application had to be made to Judge Ginsberg . . .
Robert Manzo’s e-mail telling the Chrysler CEO that their company is going to be a “Guinea Pig” in this filing is shocking.
That third paragraph is an eye-opener.
Imagine getting away from current responsibilities! Who would buy a car at all from them now? No wonder I got a $1000 check, loyalty certificate, good for only a few days.
our last best hope as a country for saving free enterprise, private property, and contract law.
... but i doubt it has a chance.
and unfortunately, it IS bush’s fault. they should have been bankrupt last december.
Ginsberg, fcol
Yet another reason they filed in NY.
Thanks...think I heard on CNBC there was a stay of some kind....sorry for not having more facts.
Link to Marketrwatch article Sunday:
Chrysler deal is challenged in appeal to High Court: Journal
The stay expires in 54 minutes, unless ginsberg issues a new one.
If RPG issues a new stay, it will show up here as a micelanious order dated 6/8/09 at the top of the list.
http://www.supremecourtus.gov/orders/08ordersofthecourt.html
US SUPREME COURT HAS AGREED TO EXTEND THE STAY!
(CNBC)
The stay has expired.
They did - GOOD!
Indiana State Treasurer (plaintiff) on CNBC now.
Fox news has it now
http://www.foxnews.com/politics/2009/06/08/breaking-supreme-court-halts-chyrsler-sale-fiat/
That was a squeeker. We were minutes from the death of the Republic.
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