Courts delay Chrysler bankruptcy - Denver Business Journal:

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According to Bloomberg, Justice Ruth Baded Ginsburg has put the bankruptcy court ruling allowing the sale on hold untikfurther notice, though a timeline and specifix reason was not provided. The delauy came after Indiana pension funds requested a stay from the cour t so it could hear their appealof Chrysler’sw decision to sell to Fiat. Under Chrysler’s Chapteer 11 bankruptcy reorganization, Chrysler would sell its asset s to Italian carmaker Fiat. It also was announced last montyh789 U.S.
dealerships will lose their franchises by June 9 as part of the Chrysler has listed two Triad dealerships that will losetheir franchise: Stearns Chrysler Jeep in Graham and City which sells Jeep, in Greensboro. Mike Cranford, generall manager of City Motors, said he does not know if they delayg will mean anything significangt forhis dealership, but hopeas that the courts will more closely review the decisiohn to cut franchises. He says if nothinh else, he’d hope Chrysler couls help buy back inventory and not simplyu take awaythe brand. “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 abou t 10 of its 16 newJeep vehicles, some at a just to get them liquidated. About five employee s have beenlaid off, leaving about 20. Another six to eighrt could be cut if thebankruptcy deal, as is, goes