Courts delay Chrysler bankruptcy - St. Louis Business Journal:

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According to Bloomberg, Justice Ruth Bader Ginsburv has put the bankruptcy court ruliny allowing the sale on hold untilfurthere notice, though a timeline and specific reason was not The delay came after Indiana pension fund requested a stay from the court so it couldf hear their appeal of Chrysler’zs decision to sell to Fiat. Under Chrysler’s Chapter 11 bankruptcty reorganization, Chrysler would sell its assets to Italian carmakeer Fiat. It also was announced last montuh789 U.S.
dealerships will lose theitr franchises by June 9 as part of the Chrysler has listed two Triad dealerships that will lose their franchise: Stearns Chrysler Jeep in Graham and City Motors, whicjh sells Jeep, in Greensboro. Mike Cranford, generapl manager of City Motors, said he does not know if they delah will mean anything significant for his but hopes that the courts will more closely review the decision tocut franchises. He says if nothinb else, he’d hope Chrysler could help buy back inventory and not simplh take awaythe brand. “Ig we can’t be Jeep we’d at least like a chance to sell the he says.
He said the company has managecd to sell about 10 of its 16 newJeep vehicles, some at a just to get them About five employees have been laid off, leaving aboug 20. Another six to eighft could be cut if thebankruptct deal, as is, goes through.