Chrysler rushed to clinch deals with Fiat and a fractious group of lenders on Wednesday in a last-ditch effort to avoid bankruptcy ahead of a government-imposed April 30 restructuring deadline. According to a report in the Wall Street Journal citing people familiar with the matter, those efforts hit a major roadblock late in the...
Posts Tagged ‘ Fiat ’
Chrysler and Union enter Deal
April 27, 2009
By SunbirdU.S. automaker Chrysler showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labour and debt costs or face bankruptcy. No. 1 U.S. automaker General Motors is also restructuring in an effort to secure the government funding it needs...
Chrysler preparing to file Bankruptcy
April 24, 2009
By SunbirdChrysler LLC is preparing to file for Chapter 11 bankruptcy protection as soon as next week, whether or not it reaches a deal with its lenders or forges an alliance with Fiat SpA, said several people familiar with the matter. If an agreement with the car maker’s lenders can be reached, Chrysler would file...
