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

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Hensarling applauded the stay as an appropriate measurew that will allow for a review of how federal bank bailout funds have been utilized bythe automaker. “ I am encouraged by the Supreme Court’s stay of the Chryslert bankruptcy proceedings,” said U.S. Rep. Hensarling. “I have been concerned about the fundamental constitutional issues of due process and equal protection that cry out for judicia l review and fundamental issuesa related to a misuse of TARP funds crying out forlegislativwe review.” TARP stands for Troubleds Asset Relief Program, the formal name for the federal bank bailout funding program. filed for bankruptcyu protectionin April.
At the time, the company said it was workinyg out a deal to combins its operationswith Fiat. As part of the originak deal, the federal governmenyt said it wouldprovide $3.5 billion for bankruptcy financing and another $4.7 billion in exit financing. In Chrysler said at the time it would entetr into a dealwith Italy's Fiat in which Fiat had agreefd to transfer billions of dollars in cutting-edge technology to Chrysler.