The Supreme Court has stepped in after investors complained about the (essentially) forced deal with Fiat. Reports MarketWatch:
The U.S. Supreme Court blocked the sale of Chrysler’s assets after a group of Indiana pension funds appealed the sale. The funds argued that the sale of Chrysler to Italian automaker Fiat is unconstitutional. A court spokesman said that the sale is stayed “pending further order of the court.”
I still wouldn’t be surprised if the Court doesn’t lift its stay after a hearing, but maybe the Constitution and rule of law aren’t completely dead. For the Court to block the administration plan would be a major blow.
