Fiat SpA closed its acquisition of Chrysler's strongest assets on Wednesday, a key step in the Italian carmaker's ambitious plan to create a global player to ride out the worldwide auto sales downturn

(Reuters) - A U.S. bankruptcy judge on Tuesday approved Chrysler's motion to reject 789 dealers. The bankruptcy judge said the order rejecting dealership contracts was effective immediately

MILAN/WASHINGTON (Reuters) - Italian automaker Fiat will not walk away from its deal to buy bankrupt Chrysler LLC, a spokesman said on Tuesday after a U.S. court delay threw the deal into doubt

By James Vicini

The sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA was temporarily blocked by a U.S. Supreme Court justice on Monday, with no indication how long the delay would last

By James Vicini and Poornima Gupta

By Emily Chasan and Caroline Humer

Filed under: Rumors, Industry, LawThree separate requests filed in Indiana by pension funds and consumer groups have asked the U.S. Supreme Court to stop the sale of Chrysler to a group led by Fiat. The groups filing the complaints hope to buy some time while challenging the deal. Some believe that this case could set a precedent for General Motors, which is trying to employ a similar "quick-sale" strategy as Chrysler. Late Friday, an appeals court stayed the closing of the sale until this afternoon, which gave the pension funds and opponents the weekend to make their plea to the Supreme Court.The three pension funds argued that the sale of Chrysler unlawfully rewarded unsecured creditors, like the union rather than secured lenders. The funds hold roughly $42 million of Chrysler's $6.9 billion in secured loans. Lawyers for the pension funds argued, "the need for the court to review the profound issues presented by Chrysler's novel bankruptcy sale far outweighs the cost of delaying [a sale]."Continue reading Indiana consumer groups want high court to block Chrysler saleIndiana consumer groups want high court to block Chrysler sale originally appeared on BloggingStocks on Mon, 08 Jun 2009 11:30:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments

A U.S. Supreme Court justice granted on Monday a request to put on hold the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA

By James Vicini and Poornima Gupta