Supreme Court Clears the Way for Chrysler-Fiat Alliance
June 09, 2009
WASHINGTON -- The Supreme Court cleared the way for the transfer of select Chrysler assets to Italy's Fiat.
The nation's highest court rejected a request from Indiana pension funds to delay the transfer until their objections were heard.
The court's ruling suggests the path will be cleared for General Motors, also in bankruptcy, to move fast on its sale of good assets to a new GM company, allowing it to emerge from bankruptcy quickly.
The Chrysler-Fiat alliance had been put temporarily on hold by Supreme Court Justice Ruth Bader Ginsburg Monday. But, as predicted by legal experts, that hold was lifted quickly as the court refused to hear the case brought by the pension funds.
Posted by Michelle Krebs at 6:27 PM under Chrysler , News | Comments (0) | digg this | Seed Newsvine
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