WKYT | Lexington, Kentucky | News, Weather, Sports

Supreme Court clears way for Chrysler sale

NEW YORK (AP) - The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents.

The court issued a brief, unsigned opinion explaining its action. To obtain a delay, or stay, the opponents needed to show that at least four of the nine justices would have agreed that the issue was serious enough to warrant hearing a full appeal, and that a majority would have concluded the lower court decision was wrong.

The court said "the applicants have not carried that burden."

Chrysler has been working to complete the sale of its assets to Fiat before a June 15 deadline, a key element in its restructuring plans.

Meanwhile, a bankruptcy judge has approved Chrysler's plan to
terminate 789 of its dealer franchises.

The order says the franchises can no longer act as authorized Chrysler, Dodge and Jeep dealers effective immediately. A written ruling is expected to be filed later.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 47482907 - wkyt.com/a?a=47482907