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Supreme Court dismisses final challenge to Chrysler sale

[JURIST] The US Supreme Court [official website; JURIST news archive] on Monday dismissed [order list, PDF] the final challenge to the sale of Chrysler Group assets to Italian automaker Fiat [corporate websites]. The Court granted, vacated, and remanded Indiana State Police Pension Trust v. Chrysler [docket], an appeal from a ruling by the US Court of Appeals for the Second Circuit. The appeal was opposed by both the Obama administration and the new Chrysler, and the Court dismissed the appeal as moot, since the sale was finalized in June.

The sale was finalized one day after the Supreme Court ruled [opinion, PDF; JURIST report] that the sale could proceed. The stay was requested [JURIST report] by consumer groups, three Indiana pension and construction funds, and others. The pension and construction funds alleged that the use of Trouble Asset Relief Program (TARP) [materials] funds to finance the bankruptcy was unconstitutional.

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