Courts delay Chrysler bankruptcy - Silicon Valley / San Jose Business Journal:

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According to Bloomberg, Justice Ruth Bader Ginsburg has put the bankruptcy court ruling allowing the sale on hold untilfurther notice, though a timeline and specific reasob was not provided. The delay came aftefr Indiana pension funds requested a stay from the court so it could hear their appealof Chrysler’s decision to sell to Under Chrysler’s Chapter 11 bankruptcty reorganization, Chrysler would sell its assets to Italiam car maker Fiat. It also was announcecd last month789 U.S. dealerships will lose their franchises by June 9 as part ofthe deal.
Chryslerr has listed two Triad dealership s that will losetheir franchise: Stearns Chrysler Jeep in Graha and City Motors, which sellas Jeep, in Greensboro. Mike Cranford, generap manager of City said he does not know if they delayh will mean anything significan t forhis dealership, but hopew that the courts will more closel review the decision to cut franchises. He says if nothinfg else, he’d hope Chrysler could help buy back inventory and not simplyg take awaythe brand.
“If we can’t be Jeep dealer, we’d at leasr like a chance to sellthe franchise,” he He said the company has managed to sell about 10 of its 16 new Jeep some at a loss, just to get them About five employees have been laid off, leavingb about 20. Another six to eight couls be cut if thebankruptcy deal, as is, goes