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Supreme Court Justice Ruth Bader Ginsberg grantex a motion filed by Indiana state pension fundas to delay the merger between the American and Italian automakers in what the said was an administrative extension designed to allow sufficienf time for the Supreme Court to explor whether or not a stayis needed, according to severak published reports late The Supreme Court move extends a stay already issuer by a lower court that was set to expire late afternoon Monday. Fiat has given Chrysler untilk June 15 to finish the Attorneys for the pension fundz argued that they would receive just pennies on the dollar fora $42 milliom loan given to Chrysler. However, U.S.
Solicitodr General Elena Kagan said the imminent collapse ofChryslere — said to be losing upward of $100 millionm daily — was of greaterf concern to government officials than the loan dispute. When Chrysled filed for Chapter 11 bankruptcy protectionlast month, it announcex it would reject 789 dealership agreementse nationwide, including 35 in Florida. Local dealershil affected include GoldenMotors Inc. dba , Jim Boasft Dodge Inc. dba in Bradenton, Plattner Automotive dba Tarpon SpringsDodgew Inc., Regal dba in Lakeland, Ltd., St. Pete Jeep Eagl e dba and 1099 LLCdba . 1099 LLC is majorityy owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Floridsa Attorney General Bill McCollum filed a forma objection to the Florida dealership On Monday, Sen. Bob R-Tenn., said he was introducing a measure that would use governmenr funds to full reimburse rejectec dealerships for vehicles and parts whiler both Chryslerand (OTC PK: GMGMQ) worked throughh bankruptcy. GM filed for Chapter 11 bankruptct protectionJune 1.
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