Chrysler Bankruptcy Hearing: CEO Takes Stand
Filed under: Autos | By: Peter Chubb
Posted on: May 28, 2009 | 1 Comment
In the ongoing Chrysler bankruptcy hearing, CEO Robert Nardelli has taken to the stand to give his testimony in relation to the proposed sale of the automaker to a group of investors, this includes car maker Fiat.
The Wall Street Journal reports that Nardelli’s testimony could last a few hours. The hearing of the Chrysler sale begun on Wednesday, and is expected to go on until late Thursday evening, Judge Arthur Gonzalez is presiding over the bankruptcy hearing.
Chrysler have filed for Chapter 11 bankruptcy protection, and hopes to be able to sell off its assets to the group, this includes the U.S. and Canadian governments, the United Auto Workers union and also Italian automaker Fiat.
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Will PBGC protect the interests of those who would qualify for the Maxinmum PBGC Guaranteed Benefit even if Chryslers retirement plan is not terminated?