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June 09, 2009

Chrysler Sale Cleared By SCOTUS

Supreme Court lifts stay and clears the way for Chrysler sale.

Ending four days of intense, round-the-clock and high-stakes legal maneuvering in the Supreme Court, the Justices on Tuesday evening removed a legal obstacle to sale of the troubled auto industry giant, Chrysler.

Insisting that it was denying a postponement in this case alone, the two-page order said the challengers had not met their burden of showing that a delay was justified. The order allows a closing of the deal as of next Monday, because it lifts a temporary stay that Justice Ruth Bader Ginsburg had issued on Monday, apparently to give the Court time to ponder the issue.

SCOTUS blog has more at the link.


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posted by DrewM. at 06:39 PM

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