03:54 PM EDT, 06/02/2025 (MT Newswires) -- (Updates share price in first paragraph, adds Wells Fargo ( WFC ) response in the final paragraph.)

Hertz (HTZ) shares were down about 2.8% shortly before the closing bell, roughly halving its decline earlier decline as the US Supreme Court sought input from the Trump Administration over a bid by the rental car company to avoid paying $320 million to Wells Fargo ( WFC ) , US Bank (USB) and other bondholders in a case stemming from its Covid-era bankruptcy.

The high court on Monday invited the US Solicitor General to file briefs to express the views of the US government in the case, according to its published order list.

Hertz is seeking to overturn a Second Circuit Court of Appeals panel ruling in November siding with the bondholders, arguing the decision "implicates fundamental principles of bankruptcy law and statutory interpretation."

Wells Fargo ( WFC ), as trustee for bondholders, instead counters investors "have a right to receive contract rate interest and the applicable premiums because Hertz was solvent" at the time it emerged from bankruptcy protection in June 2021 after significantly reducing its prior debt.

The Supreme Court has yet to formally decide whether to hear the case.

Mark Stancil, an attorney representing Hertz in the case, declined to comment when contacted Monday by MT Newswires. A Wells Fargo ( WFC ) spokesperson also declined comment while US Bank and other lawyers participating in the case did not immediately respond to similar requests.

Price: 6.37, Change: -0.19, Percent Change: -2.82