Chrysler to file for bankruptcyThe article further states that the bankruptcy will be filed in New York since they have experience with large bankruptcy filings, and that the warranties on the cars will be covered by the government.
Backed by $3.5 billion more in aid, Chrysler-Fiat to emerge in 30-60 days
By Justin Hyde and Greg Gardner • Detroit Free Press Business Writers • April 30, 2009
WASHINGTON – President Barack Obama said today that Chrysler LLC will file a historic bankruptcy shortly, backed by up to $3.5 billion in new government aid designed to allow a Chrysler-Fiat partnership to emerge from court in 30 to 60 days.
The move also sends a strong signal to bondholders at General Motors Corp. that the Obama auto task force will act on its vow to take GM into a similar bankruptcy if they do not agree to swap their GM debt for shares in a reworked GM. (cont)
Thursday, April 30, 2009
Chrysler to file for bankruptcy
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment