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Judge approves Chrysler's use of US financing

 Boxes of documents related to the Chrysler bankruptcy case are brought into US Bankruptcy Court in New York, Monday, May 4, 2009. A bankruptcy judge ...
 A woman with a binder bearing the Chrysler name waits with other people to enter US Bankruptcy Court for the Chrysler bankruptcy case in New York, Mo...

APTOPIX Chrysler Bankruptcy

Boxes of documents related to the Chrysler bankruptcy case are brought into US Bankruptcy Court in New York, Monday, May 4, 2009. A bankruptcy judge ...

Chrysler Bankruptcy

A woman with a binder bearing the Chrysler name waits with other people to enter US Bankruptcy Court for the Chrysler bankruptcy case in New York, Mo...

The judge overseeing Chrysler's bankruptcy protection case says the automaker can use $4.5 billion in government loans for bankruptcy financing while it works toward a sale of the company's assets to Italian automaker Fiat.
Judge Arthur Gonzalez on Monday also approved the payment of $8 billion in pre-bankruptcy taxes, customer and dealer obligations, and essential supplier claims.
Attorneys for a group of the company's lenders had argued that Gonzalez should deny the use of the financing because it was tied to the proposed sale to Fiat Group SpA.
The group wants to block the sale because it says the deal unfairly gives Chrysler's workers, suppliers dealers and other stakeholders priority over the Auburn Hills, Michigan, company's secured creditors.


Updated : 2021-01-16 14:44 GMT+08:00