News media reporting that Chrysler is certain to file for chapter 11
posted by Alex @ 11:14 AM
April 30, 2009
According to numerous news outlets, Chrysler is heading to bankruptcy. The reports say that negotiations between the treasury department and a small number of creditors broke down.
Take this with a grain of salt, since the media headlines seem to change every second. If this is true though, I hope almost everything has been figured out in terms of agreements between Chrysler, Fiat, the UAW, treasury department, bondholders, etc., allowing for a (relatively) quick chapter 11 filing.
Read more at CNBC.
Tags: bankruptcy, Bondholders, Chapter 11, Chrysler, Fiat, Negotiations, Treasury Department, UAW
