The upcoming sale of Chrysler LLC to Fiat has been temporarily delayed by a by a U.S. Supreme Court justice.
Justice Ruth Bader Ginsburg acted right before the 4pm deadline from a U.S. appeals court in New York. Indiana pension funds and consumer groups asked the Supreme Court over the weekend to stop the sale of Chrysler so that they could challenge the sale. The end of the appeals court would have allowed Chrysler to proceed with the sale to Fiat.
Chrysler and the Obama administration are worried that if the deal is delayed too long it could kill the deal. Fiat has the option of walking away from the deal if it is not done by June 15.
Chrysler and the U.S. Treasury Department had no immediate response to the announcement.
Full Story: Reuters
