Motion to terminate dealer franchises postponed

NEW YORK (AP) - A hearing on Chrysler's request to terminate the franchises of 789 of its dealers has been pushed back by a day.

U.S. Judge Arthur Gonzalez will hear arguments Thursday on the Auburn Hills, Mich.-based automaker's motion to eliminate the franchises.

Chrysler executives are also expected to testify. The motion was expected to be heard Wednesday.

Seven local dealers are among those scheduled to close.

Also late Tuesday, the U.S. Court of Appeals for the Second Circuit halted Chrysler LLC's sale of the bulk of its assets pending an appeal of the sale by a trio of Indiana state pension and construction funds. Arguments for that appeal will take place on Friday.

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