Supreme Court halts Chrysler deal with Fiat: Only temporary.
By: Peter Chubb | June 8, 2009
The sale of Chrysler to Fiat has been halted by the Supreme Court following an emergency appeal, which asks for the impending sale of Chrysler to the Italian automaker Fiat to be halted. The government has been behind the sale, so is a huge blow to the Obama administration.
The order to halt the sale of the automaker was signed by Justice Ruth Bader Ginsburg, but it is thought that it could only be temporary. The day started well for Chrysler and Fiat, as early on Monday the federal appeals court had approved the sale. However, opponents of the sale had until 4 p.m. ET Monday to try to convince the Supreme Court to intervene.
According to Fox News, Indiana Treasurer Richard Mourdock had said that the ruling was a small victory for the Indiana pensioners. It is those individuals who have asked for the sale of Chrysler asses to be blocked, as they fear that they could lose their stake.
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