Law & Health Weekly
Welcome to NewsRx!
Learn more about a six-week, no-risk free trial of Law & Health Weekly
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Chrysler Llc
Chrysler LLC Receives Interim Approval for $4.1 Billion DIP Financing and Cash Collateral of $400 Million
May 23rd, 2009
Chrysler LLC announced that the U.S. Bankruptcy Court yesterday gave interim approval to Chrysler for $4.1 billion of Debtor-In-Possession (DIP) financing, funded by the U.S. Treasury and Export Development Canada, and the use of $400 million of cash collateral, enabling the company to meet its working capital and general business needs going forward. Approval of Chrysler's DIP financing provides the company with resources to continue "normal course" business operations pending approval of the sale transaction with Fiat. The Chrysler Chapter 11 case was filed on April 30, 2009, in the U.S. Bankruptcy Court, Southern District of New York. The case...
Source: Law & Health Weekly (2009-05-23)
|
