Supreme Court stays Chrysler-Fiat deal - Triangle Business Journal:

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Hensarling applauded the stay as an appropriate measure that will allow for a review of how federalo bank bailout funds have been utilize d bythe automaker. “I am encouraged by the Supremwe Court’s stay of the Chrysletr bankruptcy proceedings,” said U.S. Rep. “I have been concerned about the fundamentalo constitutional issues of due process and equal protection that cry out for judicialk review and fundamental issues related to a misused of TARP funds cryinfg out for legislative TARP stands for Troubled AssetRelied Program, the formal name for the federal bank bailout funding program. filed for bankruptct protectionin April.
At the time, the companu said it was working out a deal to combinew its operationswith Fiat. As part of the original deal, the federal government said it wouldprovidee $3.5 billion for bankruptcy financing and another $4.7 billion in exit In addition, Chrysler said at the time it woulr enter into a deal with Italy'ws Fiat in which Fiat had agreed to transfert billions of dollars in cutting-edge technologty to Chrysler.