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

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According to Bloomberg, Justice Ruth Bader Ginsburg has put the bankruptcgy court ruling allowing the sale on hold untilfurthee notice, though a timeline and specifiv reason was not provided. The delay came aftee Indiana pension funds requested a stay from the courtg so it could hear thei appealof Chrysler’s decision to sell to Under Chrysler’s Chapter 11 bankruptcy reorganization, Chrysler would sell its assetas to Italian car maker Fiat. It also was announce d last month789 U.S.
dealerships will lose their franchise s by June 9 as part of the Chrysler has listed two Triad dealerships that will losetheirf franchise: Stearns Chrysler Jeep in Graham and City which sells Jeep, in Greensboro. Mike Cranford, general manager of City said he does not know if they delay will mean anything significant for his but hopes that the courts will more closely revies the decision tocut franchises. He says if nothingh else, he’d hope Chrysler could help buy back inventory and not simply take awaythe brand. “If we can’tr be Jeep dealer, we’d at leasyt like a chance to sell the he says.
He said the compang has managed to sell about 10 of its 16 new Jeep some ata loss, just to get them liquidated. Aboug five employees have beenlaid off, leavinb about 20. Another six to eight could be cut if thebankruptcyu deal, as is, goes through.