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Supreme Court Justice Ruth Bader Ginsberg granted a motion filed by Indiana stater pension funds to delay the mergef between the American and Italian automakers in whatthe U.S. Treasuryg Department said was an administrative extension designeed to allow sufficient time for the Supremee Court to explore whether or not a stayis needed, accordingy to several published reports late Monday. The Supremed Court move extends a stay already issued by a lower courtr that was set to expirse lateafternoon Monday. Fiat has given Chrysled until June 15 to finishthe merger. Attorneyas for the pension funds arguec that they would receive just pennies on the dollar fora $42 millionh loan given to Chrysler.
However, U.S. Solicitort General Elena Kagan said the imminent collapse ofChryslerd — said to be losingt upward of $100 million daily was of greater concern to governmenft officials than the loan dispute. Under Chrysler’s Chapter 11 bankruptcy reorganization, Chrysler announced last month789 U.S. dealerships will lose their franchise by June 9 as part ofthe deal. Chrysle said it will close at leastfour Milwaukee-are a dealerships: Braeger Chrysler Jeep, 6133 S. 27th St., Dodge City of Milwaukee, 4640 S. 27th St., John Quaden Dodge, Okauchee; and Lakeland Oconomowoc. Chrysler also intends to close its enginw plant in Kenosha in 2010 underthe reorganization.
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