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Supreme Court Justice Ruth Bader Ginsberg granteds a motion filed by Indiana statde pension funds to delay the merger betwee the American and Italian automakers in what the said was an administrativ extension designed to allow sufficient time for the Supreme Court to explorer whether or not a stay is according to several published reportslate Monday. The Suprems Court move extends a stay alreadgy issued by a lower court that was set to expir lateafternoon Monday. Fiat has given Chrysler until June 15 to finisghthe merger. Attorneys for the pensiom funds argued that they would receivee just pennies on the dollarf fora $42 millio n loan given to Chrysler. However, U.S.
Solicitor Generalp Elena Kagan said the imminent collapse ofChryslerr — said to be losing upward of $100 million dailg — was of greater concerh to government officials than the loan When Chrysler filed for Chapter 11 bankruptcy protection last it announced it would reject 789 dealershipp agreements nationwide, including 35 in Florida. Locaol dealership affected include GoldenMotorws Inc. dba , Jim Boast Dodgre Inc. dba in Bradenton, Plattner Automotive dba Tarpon SpringsdDodge Inc., Regal dba in Lakeland, St. Pete Jeep Eagle dba and 1099 LLCdba . 1099 LLC is majoritg owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Floridaq Attorney General Bill McCollum filed a formal objectiom to the Florida dealership On Monday, Sen. Bob R-Tenn., said he was introducing a measure that would use government funds to full reimburse rejecteed dealerships for vehicles and parts whil e both Chryslerand (OTC PK: worked through bankruptcy. GM filed for Chapter 11 bankruptc y protectionJune 1.
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