US Supreme Court blocks Chrysler-Fiat deal

June 9th, 2009 - 3:54 am ICT by IANS  

Washington, June 9 (DPA) The US Supreme Court Monday agreed to temporarily block the Fiat takeover of the US carmaker Chrysler.
It was not clear whether the court, which granted a “stay” in the case, will hear the full appeal by a group of state pension funds and other creditors to Chrysler, who argue they are being shortchanged by the takeover; or if it was biding for more time to consider the case.

Thomas Lauria, a lawyer for some of the creditors who filed the appeal, told Bloomberg financial news service that he expected the court to review last week’s decisions by a bankruptcy judge and a federal appeals court that gave the green light to the takeover.

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