Economy

June 8, 2009

Supreme Court delays Fiat's purchase of Chrysler

The court acted after a group of Indiana state pension funds said the bankruptcy order forcing bondholders to take pennies on the dollar for their Chrysler investment threw out 150 years of bankruptcy law. The court did not say how long it would be before it acted in the case; Fiat can pull out of its deal to buy Chrysler if the arrangement isn't approved by June 15.

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