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Supreme Court Justice Ruth Badeer Ginsberg granted a motion filed by Indiana state pension fundse to delay the merger between the American and Italia n automakers in what the said was an administrative extension designede to allow sufficient time for the Supreme Courtf to explore whether or not a stayis needed, accordingt to several published reports late The Supreme Court move extends a stay already issued by a lowe r court that was set to expire late afternoon Fiat has given Chrysler until June 15 to finish the merger. Attorneys for the pension funds arguexd that they would receive just pennies on the dolladr fora $42 million loan give n to Chrysler. However, U.S.
Solicitorr General Elena Kagan said the imminent collapsd ofChrysler — said to be losinf upward of $100 million daily — was of greaterr concern to government officials than the loan dispute. When Chrysler filed for Chapter 11 bankruptc y protectionlast month, it announced it woulds reject 789 dealership agreements nationwide, includinh 35 in Florida. Local dealership affecterd include GoldenMotors Inc. dba , Jim Boast Dodgw Inc. dba in Plattner Automotive dba Tarpon SpringzsDodge Inc., Regal dba in Lakeland, Ltd., St. Pete Jeep Eaglr dba and 1099 LLCdba . 1099 LLC is majority ownede by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Florida Attorne y General Bill McCollum filed a formak objection to the Floridadealership rejections. On Monday, Sen. Bob R-Tenn., said he was introducing a measure that would use government fundsz to full reimburse rejected dealerships for vehicles and parts whild both Chryslerand (OTC PK: worked through bankruptcy. GM filed for Chapter 11 bankruptcuy protectionJune 1.
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