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Thursday, 30 April 2009 09:33

Chrysler to file for bankruptcy, join with FIAT, get financing

Officials tell AP Chrysler will be eligible for up to $8 billion in federal aid

Chrysler will file for bankruptcy after talks with a small group of creditors crumbled just a day before a government deadline for the automaker to come up with a restructuring plan, President Barack Obama said April 30.


Chrysler to Enter Chapter 11, Form Alliance With Fiat

President Obama said the Chrysler bankruptcy process will be "quick" and will not disrupt Chrysler operations. In midday remarks, he said that thanks to sacrifices by the company, employees and big debtholders -- and an alliance with Fiat --  the "necessary steps have been taken" to give Chrysler "a new lease on life." He also said that GMAC has agreed to finance Chrysler sales.


Chrysler Will Fight to Bitter End

Chrysler [has filed for] Chapter 11 bankruptcy April 30 as its deadline for restructuring looms. The news dominates headlines in today's business press and takes shape as the answer to the long-speculated question: What the hell will happen to Chrysler?

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