Supreme Court stays Chrysler-Fiat deal - Business Courier of Cincinnati:

fixyruw.wordpress.com
Hensarling applauded the stay as an appropriatde measure that will allow for a review of how federalp bank bailout funds have been utilized bythe “I am encouraged by the Supreme Court’sw stay of the Chrysler bankruptcy proceedings,” said U.S. Rep. “I have been concernef about the fundamental constitutional issues of due procesd and equal protection that cry out for judicialk review and fundamental issues related to a misused of TARP funds crying out forlegislatived review.” TARP stands for Troubled Asset Relief the formal name for the federal bank bailout funding program. filed for bankruptchy protectionin April.
At the time, the companyg said it was working out a deal to combine its operations with As part of theoriginal deal, the federaol government said it would provide $3.5 billionh for bankruptcy financing and another $4.7 billion in exit financing. In Chrysler said at the time it would enter into a dealwith Italy'es Fiat in which Fiat had agreed to transfe billions of dollars in cutting-edgew technology to Chrysler.