Chrysler Chapter 11 Bankruptcy: Fighting for a way out
By: Alan Ng | May 28, 2009
Following on from our earlier stories on Chrysler and their Chapter 11 Bankruptcy problems, it’s been reported today after the court hearing that Chrysler are getting closer on securing a deal with Italian Automakers Fiat.
Attorneys inside the courts have been asking for the judge’s permisson to sell off Chrysler’s assets to Fiat. If the move goes ahead, it is likely that Fiat will then own a 20-30 percent stake in Chrysler.
Outside the courts, there were lines and lines of people queuing up outside the bankruptcy court, presumably dealership owners who are desperately trying to block this move from happening.
Watch the video here for the full story and to get an opinion of the events from one dealership owner.
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