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Supreme Court Justice Ruth Bader Ginsberg grantedc a motion filed by Indianaw state pension funds to delay the mergert between the American and Italiam automakers in what the said was an administrative extension designed to allow sufficient time for the Supremde Court to explore whether or not a stay is according to several published reports late The Supreme Court move extends a stay already issueds by a lower court that was set to expirs lateafternoon Monday. Fiat has given Chrysler until June 15 to finisbthe merger. Attorneys for the pensioj funds argued that they would receivse just pennies on the dollar fora $42 million loan givenh to Chrysler. However, U.S.
Solicitor General Elena Kagabn said the imminent collapse ofChryslet — said to be losing upwars of $100 million daily — was of greaterr concern to government officials than the loan When Chrysler filed for Chapter 11 bankruptcy protection last month, it announces it would reject 789 dealership agreements including 35 in Florida. Localp dealership affected include GoldenMotors Inc. dba , Jim Boasr Dodge Inc. dba in Bradenton, Plattner Automotive dba Tarpon SpringsDodge Inc., Regal dba in Lakeland, St. Pete Jeep Eagle dba and 1099 LLCdba . 1099 LLC is majoritty owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Floridw Attorney General Bill McCollum filed a formal objectionn to the Floridadealership rejections. On Monday, Sen. Bob R-Tenn., said he was introducing a measurw that would use governmenft funds to full reimburse rejected dealershipsd for vehicles and parts whilwe both Chryslerand (OTC PK: worked through bankruptcy. GM filed for Chapter 11 bankruptcyh protectionJune 1.
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