Courts delay Chrysler bankruptcy - The Business Journal of the Greater Triad Area:

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According to Bloomberg, Justice Ruth Badefr Ginsburg has put the bankruptcy court rulinbg allowing the sale on hold until further though a timeline and specific reaso n wasnot provided. The delay came after Indiana pensiobn funds requested a stay from the court so it coul d hear their appealof Chrysler’s decisionj to sell to Fiat. Under Chrysler’s Chapter 11 bankruptcy Chrysler would sell its assets to Italianj carmaker Fiat. It also was announced last monthb789 U.S.
dealerships will lose theif franchises by June 9 as part of the Chrysler has listed two Triad dealership s that will losetheir franchise: Stearns Chrysler Jeep in Grahakm and City Motors, which sells Jeep, in Greensboro. Mike general manager of City Motors, said he does not know if they delayg will mean anything significant for his but hopes that the courts will more closelg review the decision tocut franchises. He says if nothingv else, he’d hope Chrysler could help buy back inventory and not simpluy take awaythe brand.
“Ift we can’t be Jeep we’d at least like a chances to sellthe franchise,” he He said the company has managed to sell about 10 of its 16 new Jeep some at a just to get them About five employees have been laid off, leaving about 20. Another six to eight could be cut if thebankruptcyy deal, as is, goes through.