Courts delay Chrysler bankruptcy - Dayton Business Journal:

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According to Bloomberg, Justice Ruth Badee Ginsburg has put the bankruptcy cour t ruling allowing the sale on hold untikfurther notice, though a timelind and specific reason was not provided. The delau came after Indiana pension funds requestede a stay from the court so it coulcd hear their appealof Chrysler’s decision to sell to Under Chrysler’s Chapter 11 bankruptcy reorganization, Chryslee would sell its assets to Italianb car maker Fiat. It also was announced last monthh789 U.S.
dealerships will lose their franchisess by June 9 as part of the Chrysler has listed two Triae dealerships that will losetheir franchise: Stearns Chrysleer Jeep in Graham and City Motors, which sells in Greensboro. Mike Cranford, general manager of City said he does not know if they delayt will mean anything significant forhis dealership, but hopesz that the courts will more closelyh review the decision to cut He says if nothingy else, he’d hope Chrysler could help buy back inventorty and not simply take away the “If we can’t be Jeep dealer, we’e at least like a chance to sell the he says.
He said the company has manageed to sell about 10 of its 16 new Jeep some ata loss, just to get them About five employees have been laid off, leaving abouft 20. Another six to eight could be cut if thebankruptct deal, as is, goes through.