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Supreme Court Lifts Stay on Chrysler Deal

By Anonymous

From SCOTUS Blog: Court clears Chrysler sale

Ending four days of intense, round-the-clock and high-stakes legal maneuvering in the Supreme Court, the Justices on Tuesday evening removed a legal obstacle to sale of the troubled auto industry giant, Chrysler.

Insisting that it was denying a postponement ?in this case alone,? the two-page order said the challengers had not met their burden of showing that a delay was justified. The order allows a closing of the deal as of next Monday, because it lifts a temporary stay that Justice Ruth Bader Ginsburg had issued on Monday, apparently to give the Court time to ponder the issue.

The Court said nothing about the biggest issue lurking in the case: the legality of using federal ?bailout? money to pay for the rescue of an auto manufacturer. In fact, the order stressed that ?a denial of a stay is not a ddecision on the merits of the underlying legal issues.?

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Full post as published by Calculated Risk on June 09, 2009 (boomark / email).