http://money.cnn.com/2009/06/08/news/co … 2009060816The Supreme Court threw a wrench into the plans to have a quick bankruptcy process at Chrysler LLC, delaying the company's combination with Italian automaker Fiat.
The bankruptcy judge overseeing the Chrysler case had given approval for the company's most valuable assets, such as plants, dealerships and contracts, to become part of a new company in which Fiat would hold a significant stake.
Supreme Court Justice Ruth Bader Ginsburg, in an order issued late Monday, granted a request for a delay of that approval sought by Indiana state pension funds, which had argued that they and other lenders deserved better treatment by the bankruptcy court.
The Obama administration has stated that Chrysler is no longer viable as a standalone company and that it must join with Fiat in order to justify additional federal tax dollars needed to keep the company alive.
Poor Chrysler, they can never just win for once.