Supreme Court to block Chrysler sale?

It is possible the Chrysler sale to Fiat could be blocked by pension funds who have asked the United States supreme court to stop the transaction.

There are three Indiana based funds who have taken action and today they filed a claim in the court to stop the sale going ahead to give them the opportunity to appeal. A short while ago a United States appeal court gave the Chrysler sale to Fiat the all clear. Chrysler were forced to file for bankruptcy protection back in April after the business suffered from a fall off in sales. All United States car manufactures have seen a heavy fall in sales following the onset of the recession. The deal had received the backing of the United States government which would enable Chrysler to recover from bankruptcy. Pension funds are against the sale saying that it is not in line with bankruptcy laws and is wrongfully benefiting some creditors. The court claim asks that the sale be halted until Monday. Should the sale be frozen, then the funds can ask for a full appeal. The deal has a deadline of the 15th of June. Fiat have then got the chance to withdraw their offer if the transaction has not gone ahead.