re: #61 JustABill

Its on my Bloomberg Terminal (yes I have one at home) Here is the latest text.

Chrysler Fiat Sale Delayed by U.S. Justice Ginsburg (Update1)
2009-06-08 20:19:05.817 GMT

(Adds Ginsburg quote in third paragraph.)

By Greg Stohr and Tiffany Kary
June 8 (Bloomberg) — Justice Ruth Bader Ginsburg ordered a
delay in Chrysler LLC’s planned asset sale to a group led by
Italy’s Fiat SpA while the U.S. Supreme Court considers a
request for a longer postponement that might scuttle the deal.
A federal appeals court in New York last week allowed the
sale, while ordering the decision put on hold until 4 p.m. today
Washington time to let opponents seek Supreme Court
intervention. Indiana pension funds and consumer groups asked
for an order blocking the sale while the Supreme Court decides
whether to take up the funds’ appeal.
Ginsburg’s one-sentence order, which came only in the
pension fund case, said the bankruptcy court orders allowing the
sale “are stayed pending further order” of the Supreme Court.
Chrysler said in court papers that the sale is necessary to
stanch losses of $100 million a day. Chrysler said the sale,
which would transfer its Jeep, Chrysler and Dodge brands, would
help save 38,500 jobs plus those of workers at its suppliers.
Fiat has set a June 15 deadline for completion of the deal.
The Indiana pension funds hold $42.5 million of $6.9
billion in Chrysler secured loans.