Tuesday, December 15, 2009

Last Word On Chrysler

The Supreme Court of the United States announced a decision on the Indiana Pensioners v. Chrysler on Monday.

SCOTUS granted certiorari, vacated the decision of the 2nd Circuit Court of Appeals, and remanded the case to the 2nd Circuit to be dismissed as moot.

This doesn't surprise me, but I am disappointed. As I pointed out in June, without an allegation of a lack of good faith, there didn't appear to be any way to pursue the claim.

Over at CreditSlips, Stephen Lubben doesn't seem to think the decision means much. As I commented, however, I suspect this indicates that SCOTUS would not look kindly upon a repeat performance (Chrysler and GM were "unique" cases). I wouldn't be surprised if any attempt to duplicate Chrysler received quite a different reception upon a request for stay from SCOTUS.

I take it as SCOTUS saying "we'll let you get away with this THIS time, but don't try it again."

Of course, I could simply be dreaming.

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