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UPDATE: Pension Funds Ask High Court To Delay Chrysler Sale
Wall Street Journal ^ | 6/7/09 | By Mark H. Anderson

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 ...


TOPICS: Government; News/Current Events; US: Indiana; US: Michigan
KEYWORDS: automakers; bankruptcy; chrysler; indiana; michigan; pensionfunds; scotus

1 posted on 06/07/2009 6:52:46 AM PDT by jimbo123
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To: All

Indiana pension funds stay request iling to the Supreme Court here:

http://online.wsj.com/public/resources/documents/indiana.pdf


2 posted on 06/07/2009 6:55:09 AM PDT by jimbo123
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To: jimbo123

Yeah, Ruth Ginsberg is gonna hear the emergency appeal.


3 posted on 06/07/2009 7:04:11 AM PDT by Joiseydude (I'd rather die on my feet, than live on my knees. Live free or die.)
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To: jimbo123

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 . . .


4 posted on 06/07/2009 7:07:18 AM PDT by Buchal ("Two wings of the same bird of prey . . .")
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To: grellis; AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; ...
Ping!
5 posted on 06/07/2009 7:12:37 AM PDT by SunkenCiv (https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
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To: Buchal

Robert Manzo’s e-mail telling the Chrysler CEO that their company is going to be a “Guinea Pig” in this filing is shocking.


6 posted on 06/07/2009 7:17:33 AM PDT by jimbo123
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To: jimbo123

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.


7 posted on 06/07/2009 7:19:18 AM PDT by 3D-JOY
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To: jimbo123

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.


8 posted on 06/07/2009 8:22:45 AM PDT by kpp_kpp
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To: Springman; sergeantdave; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; ...
If you would like to be added or dropped from the Michigan ping list, please freepmail me.

Ginsberg, fcol

9 posted on 06/07/2009 8:24:15 AM PDT by grellis (I am Jill's overwhelming sense of disgust.)
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To: Joiseydude
Yeah, Ruth Ginsberg is gonna hear the emergency appeal.

Yet another reason they filed in NY.

10 posted on 06/07/2009 8:30:20 AM PDT by Crawdad (If you're in a fair fight, your tactics suck.)
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To: SunkenCiv; grellis

Thanks...think I heard on CNBC there was a stay of some kind....sorry for not having more facts.


11 posted on 06/08/2009 12:01:51 PM PDT by Ernest_at_the_Beach (Support Geert Wilders)
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To: Ernest_at_the_Beach
OK...I'm behind...must be CNBC talking about the stay mentioned in this article...

Link to Marketrwatch article Sunday:

Chrysler deal is challenged in appeal to High Court: Journal

12 posted on 06/08/2009 12:06:29 PM PDT by Ernest_at_the_Beach (Support Geert Wilders)
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To: Ernest_at_the_Beach

The stay expires in 54 minutes, unless ginsberg issues a new one.


13 posted on 06/08/2009 12:06:41 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: Ernest_at_the_Beach

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


14 posted on 06/08/2009 12:09:55 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: patton

US SUPREME COURT HAS AGREED TO EXTEND THE STAY!
(CNBC)


15 posted on 06/08/2009 1:01:47 PM PDT by lucyblue
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To: Ernest_at_the_Beach

The stay has expired.


16 posted on 06/08/2009 1:02:16 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: lucyblue

They did - GOOD!


17 posted on 06/08/2009 1:02:43 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: lucyblue

Indiana State Treasurer (plaintiff) on CNBC now.


18 posted on 06/08/2009 1:03:36 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: lucyblue

Fox news has it now

http://www.foxnews.com/politics/2009/06/08/breaking-supreme-court-halts-chyrsler-sale-fiat/


19 posted on 06/08/2009 1:10:14 PM PDT by boxerblues
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To: lucyblue

That was a squeeker. We were minutes from the death of the Republic.


20 posted on 06/08/2009 1:13:17 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: abb

I consider this issue to be the absolute last stand for the rule of law in this country.

I don’t really expect that the little old state of Indiana is going to be able to stem the tide of socialism all by itself, but I do have to hope that this case will expose the Chicago-style THUG politics that the Obama administration is using to push their nationalizations through.

What we have here is nothing less than a coup. In broad daylight.

WAKE UP AMERICA - YOU’RE BEING ROLLED!!


21 posted on 06/08/2009 1:13:28 PM PDT by lucyblue
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To: boxerblues

Thanks - the order is still not on the USSC page.


22 posted on 06/08/2009 1:14:36 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: patton

I couldn’t agree more.

The Republic is hanging on by a thread.


23 posted on 06/08/2009 1:17:50 PM PDT by lucyblue
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To: patton

Bambi just got b* slapped


24 posted on 06/08/2009 1:20:06 PM PDT by boxerblues
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To: boxerblues; lucyblue

“UPON CONSIDERATION of the application of counsel for the applicants, and the responses filed thereto,
IT IS ORDERED that the orders of the Bankruptcy Court for the Southern District of New York, case No. 09-50002, dated May 31 and June 1, 2009, are stayed pending further order of the undersigned or of the Court.”

— RBG


25 posted on 06/08/2009 1:22:28 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: patton

http://www.scotusblog.com/wp/ginsburg-temporarily-blocks-chrysler-deal/

The action had almost no legal significance, however. The deal remains in legal limbo until Ginsburg, as the Circuit Justice, or the full Court takes some definitive action.


26 posted on 06/08/2009 1:27:35 PM PDT by boxerblues
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To: boxerblues

It does have significance - because without the stay, Chrysler would have closed the deal immediately, and Indianna’s case would be moot. And the Republic would be over.

Which still may happen - but it won’t happen today.


27 posted on 06/08/2009 1:32:57 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: patton
I was just quoting from the blog.

Finally someone has the gonads to stand up to O and challenge what he is doing.

28 posted on 06/08/2009 1:42:11 PM PDT by boxerblues
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To: boxerblues; lucyblue

I eanestly thanked G_D when this was announced. All of the other stuff the news is reporting, is mere distraction in comparison - THIS is the war.


29 posted on 06/08/2009 1:46:44 PM PDT by patton (Obama has replaced "Res Publica" with "Qoud licet Jovi non licet bovi.")
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To: grellis; Ernest_at_the_Beach; AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; ...

Thanks Ernest.

Kagan waves Court off Chrysler
Politico | 06/08/09 | Josh Gerstein
Posted on 06/08/2009 10:01:47 AM PDT by thomas16
http://www.freerepublic.com/focus/news/2267280/posts

BREAKING: USSC delays Chrysler asset sale!
CNBC Breaking News (live) | 08 JUL 09 | dcbryan1
Posted on 06/08/2009 1:08:48 PM PDT by DCBryan1
http://www.freerepublic.com/focus/news/2267434/posts

Obama’s man called shots on bankruptcy
Detroit Free Press | June 7, 2009 | Greg Gardner
Posted on 06/08/2009 9:42:25 AM PDT by St. Louis Conservative
http://www.freerepublic.com/focus/news/2267268/posts

Fewer but bigger dealerships expected to boost car prices
($2000 - $6000 per vehicle)
Boston Globe | 6/8/09
Posted on 06/08/2009 7:44:37 AM PDT by earlJam
http://www.freerepublic.com/focus/news/2267164/posts


30 posted on 06/08/2009 5:49:31 PM PDT by SunkenCiv (https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
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