The U.S. Supreme court has delayed the sale of Chrysler to Fiat. The Supreme Court wants more time to consider opposition to the sale by three Indiana state pension and construction funds. Bloomberg reports the Fiat's CEO Sergio Marchionne says they won't walk away from the deal despite a June 15 deadline.
Moments after her order was issued, Fiat Chief Executive Officer Sergio Marchionne said in a telephone interview that the company will "never" walk away from the deal. The company previously set a June 15 deadline for completion.
A federal appeals court in New York last week allowed the sale, while putting its decision on hold until 4 p.m. today to let opponents including Indiana pension funds seek Supreme Court intervention.
Ginsburg's one-sentence order today said the bankruptcy court orders allowing the sale "are stayed pending further order" of the Supreme Court. That language leaves open the possibility that the justices might clear the deal to go forward in the next several days.
Bloomberg's article says the Obama administration has downplayed concerns that the deal won't go through. A top Obama administration lawyer has also urged the Supreme Court to allow Chrysler's bankruptcy to proceed.
The U.S. Supreme court has delayed the sale of Chrysler to Fiat. The Supreme Court wants 
