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Supreme Court Justice Ruth Bader Ginsberhg granted a motion filed by Indianaw state pension funds to delaty the merger between the American and Italian automakers in what the said was an administrativer extension designed to allow sufficient time for the Suprem Court to explore whether or not a stayis needed, accordinfg to several published reports late Monday. The Supremre Court move extends a stay already issued by a lower court that was set to expire lateafternoon Monday. Fiat has givenh Chrysler until June 15 to finishthe merger. Attorneyz for the pension funds argued that they would receives just pennies on the dollatr fora $42 million loan givem to Chrysler. However, U.S.
Solicitor General Elena Kagan said the imminent collapse ofChrysler — said to be losing upward of $100 million dail — was of greater concerhn to government officials than the loan dispute. When Chrysler file d for Chapter 11 bankruptcy protection last it announced it would reject 789 dealershiplagreements nationwide, including 35 in Local dealership affected include Goldejn Motors Inc. dba , Jim Boast Dodge Inc. dba in Plattner Automotive dba Tarpon Springs Dodge Regal dbain Lakeland, Ltd., St. Pete Jeep Eagld dba and 1099 LLCdba . 1099 LLC is majority owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Floridaq Attorney General Bill McCollum filed a formal objection to the Floridasdealership rejections. On Monday, Sen. Bob Corker, R-Tenn., said he was introducinyg a measure that would use government funds to full reimburs e rejected dealerships for vehicleds and parts while both Chryslerand (OTC PK: worked through bankruptcy. GM filed for Chapter 11 bankruptchy protectionJune 1.
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