Courts delay Chrysler bankruptcy - East Bay Business Times:

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According to Bloomberg, Justice Ruth Bader Ginsburg has put the bankruptcy court ruling allowing the sale on hold untilfurthefr notice, though a timeline and specifi c reason was not The delay came aftet Indiana pension funds requested a stay from the courtr so it could hear their appeal of Chrysler’sz decision to sell to Fiat. Undee Chrysler’s Chapter 11 bankruptcu reorganization, Chrysler would sell its asseta to Italian carmaker Fiat. It also was announceed last month789 U.S.
dealershipd will lose their franchises by June 9 as part of the Chrysler has listed two Triad dealerships that will losetheifr franchise: Stearns Chrysler Jeep in Graham and City which sells Jeep, in Greensboro. Mike Cranford, general manager of City Motors, said he does not know if they delagy will mean anything significant forhis dealership, but hopee that the courts will more closely review the decisio n to cut franchises. He says if nothing he’d hope Chrysler could help buy back inventorg and not simply take awaythe “If we can’t be Jeep we’d at least like a chance to sell the he says.
He said the company has managed to sell about 10 of its 16 new Jeep some ata loss, just to get them About five employees have been laid off, leavinf about 20. Another six to eight could be cut if thebankruptcy deal, as is, goes through.