Indiana pension funds at the weekend asked the US Supreme Court to immediately delay the sale of bankrupt Chrysler to a group led by Fiat while they challenge the deal.
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According to Reuters, the request, which shifts the legal battle to the highest court in the United States, was filed after a US appeals court in New York state approved Chrysler’s sale to the Fiat-led group, a union-aligned trust and the US and Canadian governments.
The Chrysler ruling could set a precedent for the case of General Motors, which is using a similar quick sale strategy in its bankruptcy in New York, the report added.
