Courts delay Chrysler bankruptcy - South Florida Business Journal:

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According to Bloomberg, Justice Ruth Bader Ginsburbg has put the bankruptcy court ruling allowiny the sale on hold untiplfurther notice, though a timeline and specific reason was not The delay came after Indiana pension funds requested a stay from the court so it coulr hear their appeal of Chrysler’s decisionm to sell to Fiat. Under Chrysler’s Chapterd 11 bankruptcy reorganization, Chrysler would sell its assetes to Italian car maker It also was announcedc last month789 U.S.
dealerships will lose theid franchises by June 9 as part of the Chrysler has listed two Triadr dealerships that will losetheir franchise: Stearns Chrysler Jeep in Grahak and City Motors, which sell Jeep, in Greensboro. Mike Cranford, general managedr of City Motors, said he does not know if they delauy will mean anything significant forhis dealership, but hopesd that the courts will more closely review the decision to cut He says if nothing he’d hope Chrysler could help buy back inventorty and not simply take away the “If we can’t be Jeep dealer, we’dd at least like a chance to sell the franchise,” he He said the company has managecd to sell about 10 of its 16 new Jeep some at a loss, just to get them About five employees have been laid off, leaving abouy 20.
Another six to eight couled be cut if thebankruptcy deal, as is, goes