chrysler

With the last legal obstacle cleared away by the Supreme Court on Tuesday, Chrysler finally inked its long-awaited deal with Fiat on Wednesday.

By selling its key assets to the Italian carmaker and shedding many of its debts, as well as hundreds of dealers, Chrysler can now emerge from bankruptcy as a leaner automaker.

Chrysler's plan to be sold to Italian carmaker Fiat is back on course. The Supreme Court on Tuesday rejected claims from a group of creditors.

Meanwhile, the House has passed the "cash for clunkers" bill. It's a measure aimed at boosting sales of fuel-efficient cars and trucks.

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The Chrysler bankruptcy proceedings have been moving quickly and smoothly. In fact, the automaker has a hearing Wednesday that could help a new, healthier version of the company emerge from court next month.

But some legal scholars say the rights of people who loaned Chrysler money have been trampled in the process.

NPR's Frank Langfitt reports.