Skip to comments.UPDATE: Pension Funds Ask High Court To Delay Chrysler Sale
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:
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.
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:
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.
US SUPREME COURT HAS AGREED TO EXTEND THE STAY!
The stay has expired.
They did - GOOD!
Indiana State Treasurer (plaintiff) on CNBC now.
Fox news has it now
That was a squeeker. We were minutes from the death of the Republic.
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!!
Thanks - the order is still not on the USSC page.
I couldn’t agree more.
The Republic is hanging on by a thread.
Bambi just got b* slapped
“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.”
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.
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.
Finally someone has the gonads to stand up to O and challenge what he is doing.
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.
Kagan waves Court off Chrysler
Politico | 06/08/09 | Josh Gerstein
Posted on 06/08/2009 10:01:47 AM PDT by thomas16
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
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
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