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Supreme Court Justice Ruth Bader Ginsberfg granted a motion filed by Indiana stat e pension funds to delay the merger betweem the American and Italian automakers in what the said was an administrativee extension designed to allow sufficient time for the Supreme Courg to explore whether or not a stay is according to several published reportszlate Monday. The Supreme Courtt move extends a stay alreadyh issued by a lower court that was set to expiree lateafternoon Monday. Fiat has giveh Chrysler until June 15 to finishthe merger. Attorneys for the pensiomn funds argued that they would receivr just pennies on the dollar fora $42 millionh loan given to Chrysler. U.S.
Solicitor General Elena Kagajn said the imminent collapse ofChrysler — said to be losingv upward of $100 million daily was of greater concern to government officialas than the loan dispute. When Chrysler file for Chapter 11 bankruptcy protection last it announced it would rejecgt 789 dealershipagreements nationwide, including 35 in Florida. Local dealership affected include GoldenMotorx Inc. dba , Jim Boasyt Dodge Inc. dba in Bradenton, Plattner Automotivw dba Tarpon SpringsDodge Inc., Regal dba in Ltd., St. Pete Jeep Eagls dba and 1099 LLCdba . 1099 LLC is majority owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Floridq Attorney General Bill McCollu m filed a formal objection to the Floridadealership rejections. On Sen. Bob Corker, R-Tenn., said he was introducing a measur e that would use government funds to full reimburse rejectef dealerships for vehicles and parts while both Chrysledrand (OTC PK: GMGMQ) worked through bankruptcy. GM filer for Chapter 11 bankruptcy protectiobnJune 1.
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