BREAKING NEWS! BREAKING NEWS!Ruth Bader Ginsberg, interrupted the U.S. Government, the new Chrysler and Fiat S.p.A. plans to emerge from bankruptcy court with a fresh start.
The stay issued a few minutes before the deadline, has momentarily delayed the merging of the new Chrysler and Fiat and may derail the deal put together by the Obama Administration to bring new life to the ailing Chrysler.
The Indiana State Pension Fund and other parties requested that the U.S. Supreme Court to review the matter This Sunday and requested that the court rule to stop the sale while the group seeks to challenge the sale of the "old' Chrysler" as the pension group believes they are due far more that what they are receiving from the proceeds of the sale as it is currently structured.
Among the various challenges include, the use of federal bailout funds being used illegally, that the sale unlawfully rewards unsecured creditors ahead of secured creditors which amounts to an illegal reorganization plan.
More to come...
Enjoy Today!
Kevin Kimbrough
That Car Guy
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