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Legal News

: JURIST - The Paper Chase

Supreme Court dismisses final challenge to Chrysler sale

By Bernard Hibbitts (editor) and University of Pittsburgh School of Law students.

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[JURIST] The US Supreme Court on Monday dismissed the final challenge to the sale of Chrysler Group assets to Italian automaker Fiat. The Court granted, vacated, and remanded Indiana State Police Pension Trust v. Chrysler, an appeal from a ruling by the US Court of Appeals for the Second Circuit. The appeal was opposed by both the Obama administration and the new Chrysler, and the Court dismissed the appeal as moot, since the sale was finalized in June. The sale was finalized one day after the Supreme Court ruled that the sale could proceed. The stay was requested by consumer groups, three Indiana pension and construction funds, and others. The pension and construction funds alleged that the use of Trouble Asset Relief Program (TARP) funds to finance the bankruptcy was unconstitutional.

Full post as published by JURIST - The Paper Chase on December 14, 2009 (boomark / email).

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