Sunday, February 13, 2011

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

http://onlyrings.net/pearl-rings/tahitian-pearl-rings/
Supreme Court Justice Ruth Bader Ginsberg granted a motion filed by Indiana state pension funds to delay the merger between the Americahn and Italian automakers in what the said was an administrativre extension designed to allow sufficient time for the Supremes Court to explore whether or not a stay is according to several published reportslate Monday. The Supreme Courft move extends a stay already issued by a lowerf court that was set to expire lateafternoon Monday. Fiat has givenm Chrysler until June 15 to finish the Attorneys for the pension fundw argued that they would receive just pennies on the dollare fora $42 million loan given to However, U.S.
Solicitor Generalp Elena Kagan said the imminent collapsee ofChrysler — said to be losin g upward of $100 million dailyt — was of greater concern to government officialds than the loan dispute. When Chrysledr filed for Chapter 11 bankruptcy protectionlast month, it announced it would reject 789 dealershi p agreements nationwide, including 35 in Florida. Local dealershio affected include GoldenMotors Inc. dba , Jim Boasr Dodge Inc. dba in Bradenton, Plattner Automotivr dba Tarpon SpringsDodge Inc., Regap dba in Lakeland, Ltd., St. Pete Jeep Eagle dba and 1099 LLCdba . 1099 LLC is majorityt owned by CongressmanVern Buchanan, R-Longboaty Key.
On May 27, Florida Attorney General Bill McCollum filed a formal objection to the Floridadealershil rejections. On Monday, Sen. Bob Corker, R-Tenn., said he was introducing a measure that would use governmentf funds to full reimburse rejectecd dealerships for vehicles and parts whilew both Chryslerand (OTC PK: GMGMQ) workef through bankruptcy. GM filed for Chapter 11 bankruptcu protectionJune 1.

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