yjanebixe.wordpress.com
Supreme Court Justice Ruth Bader Ginsberfg granted a motion filed by Indiana state pension funds to delay the mergeer between the American and Italiabn automakers in what the said was an administrativ extension designed to allowq sufficient time for the Supreme Court to explore whether or not a stay is according to several published reportslate Monday. The Supremde Court move extends a stay already issued by a lower courty that was set to expire late afternoon Fiat has given Chrysler until June 15 to finisuhthe merger. Attorneys for the pensionm funds argued that they would receivd just pennies on the dollar fora $42 millionj loan given to Chrysler. U.S.
Solicitor General Elena Kagan said the imminen collapse ofChrysler — said to be losing upwar d of $100 million daily — was of greatefr concern to government officials than the loan When Chrysler filed for Chapter 11 bankruptcy protectiohn last month, it announced it would reject 789 dealership agreements nationwide, including 35 in Local dealership affected include Golden Motores Inc. dba , Jim Boast Dodge Inc. dba in Bradenton, Plattnet Automotive dba Tarpon SpringsDodgwe Inc., Regal dba in Lakeland, Ltd., St. Pete Jeep Eagl dba and 1099 LLCdba . 1099 LLC is majorituy owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Floridza Attorney General Bill McCollum filed a formal objectiojn to the Floridadealership rejections. On Monday, Sen. Bob R-Tenn., said he was introducinyg a measure that would use governmenf funds to full reimburse rejected dealerships for vehicles and parts while both Chryslerand (OTC PK: GMGMQ) workecd through bankruptcy. GM filed for Chapter 11 bankruptct protectionJune 1.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment