Ginsburg temporarily blocks Chrysler deal
the SCOTUS web site.
FTA: Ginsburg’s brief, unexplained order said only that the bankruptcy court’s decisions approving the sale were “stayed pending further order” by her or the Court.
A small group of objectors to the heavy-handed Obama tactics in the Chrysler sale won a huge victory in SCOTUS today. It is a direct rebuke of Obama. The next deadline is June 15 – that’s when Fiat, as a private entity, has said the deal must be finished or they walk. SCOTUS will need to hear the full case by then if they choose to honor that declared deadline. A briefing schedule has not yet come out.
The case is Indiana State Police Pension Trust, et al., v. Chrysler LLC (application 08A1096) case. The importance of the Order will be to delay the Chrysler sale pending a review by the Court.
Supreme Court Justice Ruth Bader Ginsburg put a temporary hold Monday on the deal to sell Chrysler to save it from collapse. Her order, however, simply gives her or the full Court more time to ponder whether to postpone the sale further, or allow it to go forward. The order can be found here.
It would have taken the votes of five members of the Court to grant a full postponement. Ginsburg’s brief, unexplained order said only that the bankruptcy court’s decisions approving the sale were “stayed pending further order” by her or the Court.
The Justice acted just minutes before a 4 p.m. deadline that the Second Circuit Court had set last Friday. At that hour, a delay ordered by the Circuit Court expired. If Ginsburg had not acted, the sale would have been cleared under the terms of the lower court’s order. Her order stayed the orders of the bankruptcy court approving the sale, since those orders would have gone into effect when the Circuit Court delay ran out.
The wording of Ginsburg’s order — “stayed pending further order” — is the conventional way by which a Justice or the Court carries out an action that is expected to be short in duration, and not controlling — or even hinting at — the ultimate outcome. Any speculation that her order meant the Court was leaning toward a further postponement would be unfounded.
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Wild Thing’s comment…….
OUCH! LOL good for her, kind of shocking she is the one to do this though. hahaha I guess the never say never comes in to play a little on this one.
I never ever thought I would thank Ginsburg for anything.
Thank you Justice Ginsburg.
A temporary halt to the direct abuse of the 4th and 5th Amendments. Like my old man used to say, son don’t hold your hand over your butt waiting, it just might grow there. Not only is the seizure of the financial system egregious, the seizure of private enterprise for sale to foreign governments is treasonous. Hang all those bastards, including Ginsburg.
This is great news. Now the whole Supreme court will hear this case. The secured lenders are by contract suppose to get top billing and assured of their return. They hold Millions in assets to private citizens retirement accounts the government has no right to usurp this pecking order.
So hopefully the SCOTUS will shoot down this bailout and robbery of Chrysler by Big Government and the more corrupt Unions.
Jack,your right it is only temporary.
Just enough to tick Obama off and maybe
mess with his Friday night for a tiny bit.
Mark, I am all for that, I want this
to take a long time and make the lives
of Obama not as smooth as he has had it.