In order to get an injunction you have to show (1) an arguable case (2) damages that cannot be compensated by damages and (3) that the balance of convenience favors the granting of the injunction. Here it seems the US SC denied the injunction on procedural grounds -- a failure of proof.
From NY Times
The United States Supreme Court declined Tuesday evening to hear a challenge to the Chrysler bankruptcy settlement, clearing the way for the sale of Chrysler's key assets to a group led by Fiat as soon as Wednesday morning.
The ruling was a setback to a group of three Indiana pension funds and several consumer groups that had objected to the terms and the handling of the Chrysler bankruptcy.
The refusal by the Supreme Court to revisit the matter, after two lower courts approved the sale, removes the uncertainty posed by a decision by Justice Ruth Bader Ginsburg on Monday to halt the deal pending further review.
In a two-page order issued late Tuesday, the Supreme Court said it had not made a decision on the merits of the appeal by the Indiana funds, who have protested the government's treatment of Chrysler's secured lenders. Instead, according to the order, the Indiana funds "have not carried the burden" of proving that the Supreme Court needed to intervene.
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