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Chrysler Llc
Chrysler LLC Receives Court Approval of 'First Day Motions'
May 23rd, 2009
Chrysler LLC announced that the U.S. Bankruptcy Court has granted the relief the company requested in a series of court filings known as "First-day motions." The orders issued by the court will help the company continue to operate its business during the reorganization proceedings. Yesterday, Chrysler announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it had reached an agreement in principle to establish a global strategic alliance with Fiat SpA. Chrysler filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in U.S. Bankruptcy Court to facilitate the restructuring and alliance. ...
Source: Law & Health Weekly (2009-05-23)
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