US court makes way for Chrysler sale
Published:Wednesday | June 10, 2009 | 9:35 AM
The CNN is reporting that the US Supreme Court has cleared the way for the sale of Chrysler to a consortium led by Italian automaker Fiat.
On Monday, the Court delayed the sale pending a review of the merits of a case brought by the Indiana state pension funds, which argued that they and other lenders deserved better treatment by the bankruptcy court.
Chrysler\'s asset sale was approved by a bankruptcy judge on May 31, just hours before the bankruptcy filing of General Motors.
The bankruptcy judge overseeing the Chrysler case had given approval for the company\'s most valuable assets, to become part of a new company in which Fiat would hold a significant stake.