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Justice delays sale to Fiat

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The Associated Press

The Tampa Tribune

Published: June 9, 2009

WASHINGTON - Supreme Court Justice Ruth Bader Ginsburg on Monday delayed Chrysler's sale of most of its assets to a group led by Italy's Fiat, but didn't say how long the deal will remain on hold.

Ginsburg said in an order the sale is "stayed pending further order," indicating the delay may be temporary.
Chrysler has said the sale must close by June 15, or Fiat Group SpA has the option to walk away, leaving the Auburn Hills, Mich., automaker with little option but to liquidate.

A federal appeals court in New York approved the sale Friday, but gave opponents until 4 p.m. Monday to try to get the Supreme Court to intervene. Ginsburg issued her order shortly before the deadline.

Ginsburg could decide on her own whether to end the delay, or she could ask the full court to decide. It is unclear when she or the court will act.

The Associated Press

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