Chrysler Deal On Hold!

Just before the deadline of 4 PM today Supreme Court Justice Ruth Bader Ginsburg put the sale of Chrysler to Italy’s Fiat on hold. The case brought against the deal are from a group of major secure bond holders of Chrysler. Right now bond holders are set to get about $.30 on the dollar. The order came done right before the deadline stating that the sale is “stayed pending further order.” What this means isn’t clear, nor is the time frame, but seems to be a temporary hold. Now Chrysler LLC is getting nervous, as well as the U.S government. Mainly because the Fiat Group SpA can drop out of the deal come June 15th. If the deal fails Chrysler might will have no choice but to liquidate. Me personally I don’t think they would liquidate their assets. I think they could get a better deal, and these bond holders feel the same way. I guess Obama will need to rethink the way he has been treating these bond holders. Remember Obama was the one who blamed the bond holders for the bankruptcy filling, maybe he should luck at himself for pushing the bond holders around. I think the bond holders will win this one, anyway I hope.