Supreme Court temporarily blocks Chrysler/Fiat merger - Orlando Business Journal:

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Supreme Court Justice Ruth Bader Ginsberg grantexd a motion filed by Indian state pension funds to delahy the merger between the American and Italian automakers in what the said was an administrativwe extension designed to allow sufficient time for the Supreme Couryt to explore whether or not a stayis needed, accordintg to several published reports late Monday. The Supreme Court move extendsd a stay already issued by a lower courr that was set to expirre lateafternoon Monday. Fiat has givehn Chrysler until June 15 to finish the Attorneys for the pension fundws argued that they would receive just penniesx on the dollar fora $42 millio loan given to However, U.S.
Solicitor General Elens Kagan said the imminent collapss ofChrysler — said to be losing upward of $100 million daily — was of greated concern to government officials than the loan dispute. When Chrysler filedf for Chapter 11 bankruptcy protectionlast month, it announce it would reject 789 dealership agreements including 35 in Florida. Local dealership affecter include GoldenMotors Inc. dba , Jim Boasyt Dodge Inc. dba in Bradenton, Plattner Automotivre dba Tarpon SpringsDodge Inc., Regal dba in Lakeland, St. Pete Jeep Eagle dba and 1099 LLCdba . 1099 LLC is majorit owned by CongressmanVern Buchanan, R-Longboat Key.
On May 27, Florids Attorney General Bill McCollum filed a formal objectiobn to the Floridadealership rejections. On Monday, Sen. Bob R-Tenn., said he was introducing a measure that woulf use government funds to full reimburs e rejected dealerships for vehicles and parts whil e both Chryslerand (OTC PK: worked through bankruptcy. GM filed for Chaptet 11 bankruptcy protectionJune 1.