In a one sentence order, Justice Ginsburg left open the possibility that the SCOTUS may scotch the Chrysler-Fiat deal that gives 29 cents on the dollar to the Indiana Fund and other Chrysler bondholders.Judge Ruth Bader Ginsburg’s Order read as follow:“UPON CONSIDERATION of the application of counsel for the applicants, and the responses filed thereto, IT IS ORDERED that the orders of the Bankruptcy Court for the Southern District of New York, case No. 09-50002, dated May 31 and June 1, 2009, are stayed pending further order of the undersigned or of the Court.”So, what does this mean?  According to scotusblog.com,The action had almost no legal significance, however.  The deal remains in legal limbo until Ginsburg, as the Circuit Justice, or the full Court takes some definitive action. There is now no timetable for further action at the Supreme Court, although the terms of the deal allow Chrysler’s new business spouse — Fiat, the Italian...(Read Full Post)