The rejection by Judge Donald Parsons of Fiat SpA's request to value some of the shares of Chrysler Group "clears the way for the case over the United Auto Workers retiree trust's Chrysler holdings to go to trial," Bloomberg reported. The Delaware Chancery court judge ruled that the Italian car maker was not able to show substantial proof that the union fund "is required to deliver the shares in return for Fiat's payment of $ 139.7 million." The judge added that it "would be premature" for him to order the fund to give over the shares. 

Fiat failed to convince the judge that the 54,000 shares in question were covered by a call-option agreement. The ruling puts the merger of Fiat and Chrysler Group on hold.

Fiat remains unfazed and optimistic. In a statement, the company said that it "remains confident that those residual issues will be resolved in its favor." UBS London analyst Philippe Houchois agrees. "While the court did not require that VEBA deliver the shares, we view the ruling as positive for Fiat and likely to help an out-of court agreement," he said.