Chrysler LLC will proceed with Chapter 11 bankruptcy protection now that talks with debt holders have broken down, an Obama administration official said Thursday.
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Italian Industry Minister Claudio Scajola welcomed on Thursday news of a deal between Chrysler LLC and Fiat , saying he would work to facilitate dialogue with Italian trade unions.
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WASHINGTON (Reuters) -- Chrysler LLC will file for Chapter 11 bankruptcy protection as it forms a partnership with Italian automaker Fiat S.p.A., President Barack Obama said today.
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Chrysler LLC filed for Chapter 11 bankruptcy protection today in New York and expects to emerge within 60 days in an alliance with Fiat S.p.A., senior White House officials said today.
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Chrysler LLC will file for Chapter 11 bankruptcy protection in a New York court "almost immediately" and expects to emerge within 60 days in an alliance with Fiat S.p.A., senior White House officials said today.
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Chrysler LLC's anticipated bankruptcy filing will take place today in U.S. Bankruptcy Court in Manhattan, according to sources with direct knowledge of the situation.
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Chrysler LLC's anticipated bankruptcy filing will take place today in U.S. Bankruptcy Court in Manhattan, according to sources with direct knowledge of the situation.
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Chrysler LLC will file for Chapter 11 bankruptcy protection in a New York court "almost immediately" and expects to emerge within 60 days in an alliance with Fiat S.p.A., senior White House officials said today.
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President Obama has confirmed that Chrysler is to enter Chapter 11 bankruptcy protection after failing to persuade its main lenders to write off debts.
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President Obama has confirmed that Chrysler is to enter Chapter 11 bankruptcy protection after failing to persuade its main lenders to write off debts.
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Chrysler LLC will file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down while entering an alliance with Italy's Fiat S.p.A., President Barack Obama said today.
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Chrysler LLC, battered by collapsing U.S. sales and a global credit crisis, filed for bankruptcy and announced an industry-changing deal with Fiat S.p.A.
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Chrysler LLC will proceed with Chapter 11 bankruptcy protection now that talks with debt holders have broken down, an administration official said today.
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Chrysler LLC will proceed with Chapter 11 bankruptcy protection now that talks with debt holders have broken down, an administration official said today.
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Chrysler LLC rushed to clinch a last-minute deal on Thursday to stave off collapse ahead of a midnight deadline.
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UAW members at Chrysler have overwhelmingly approved a deal that sees Chrysler paying some of its legacy obligations to UAW members in the form of stock and therefore reducing its future liabilities on healthcare.
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Chrysler is on the brink of filing for Chapter 11 today as reports in the US suggest that debt negotiations with Chrysler's lenders have stalled.
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There is "reasonable optimism" that a deal between Fiat S.p.A. and Chrysler LLC could be announced on Thursday, Italy's industry minister said on Thursday after talking with Fiat's top management.
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Chrysler is headed for a trip through bankruptcy, a government official said Thursday, as talks with holdout debt holders have collapsed.
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Chrysler, an 84-year-old symbol of Americas manufacturing might, has filed for Chapter 11 bankruptcy in an unprecedented move announced Thursday by President Barack Obama.
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