WASHINGTON – Tuesday night the Supreme Court denied an emergency stay request from disgruntled Chrysler creditors who had asked the justices to halt the car company's impending sale.
The Court's decision means Italian car company Fiat is now in position to finalize its purchase of Chrysler.
Monday afternoon, the Court had temporarily put a hold on the situation, but this ruling appears to end all chances of a legal block to the government-backed sale.
The Court's unsigned order rather blandly described the extraordinary circumstances in which a stay could be granted. In short they wrote, "the applicants have not carried that burden."
In response to the Court's decision a White House official said "we are gratified that not a single court that reviewed this matter, including the U.S. Supreme, found any fault whatsoever with the handling of this matter by either Chrysler or the U.S. Government. We are delighted that the Chrysler-Fiat alliance can now go forward, allowing Chrysler to re-emerge as a competitive and viable automaker. "
Fox's Major Garrett contributed to this report.
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