GM's path to exit bankruptcy protection apparently clear as deadline passesJuly 9th, 2009 GM's path to leave Chapter 11 apparently clearedDETROIT — It looks like the path is now clear for General Motors to exit bankruptcy protection as a new government-controlled company. A judge's order approving a plan to sell most of GM's assets to a new company was to take effect at noon Thursday.
Bankruptcy judge OK's GM motion to terminate aircraft leasesJune 18th, 2009 Judge approves termination of GM aircraft leasesNEW YORK — A bankruptcy judge ruled Thursday that General Motors Corp. can terminate its aircraft leases as part of its ongoing restructuring.
Supreme Court clears way for Chrysler's sale to Fiat, turning down last-ditch bid by opponentsJune 10th, 2009 Supreme Court clears way for Chrysler's Fiat saleWASHINGTON — The Supreme Court on Tuesday cleared the way for Chrysler LLC's sale to Fiat, turning down a last-ditch bid by opponents that included consumer groups and three Indiana pension plans. The court rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker.
Supreme Court clears way for Chrysler sale to FiatJune 10th, 2009 High court won't block Chrysler saleWASHINGTON — The Supreme Court on Tuesday cleared the way for Chrysler LLC's sale to Fiat, turning down a last-ditch appeal by opponents that included consumer groups and three Indiana pension plans. The court rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker.
Judge approves Chrysler plan to eliminate 789 dealer franchises effective immediatelyJune 9th, 2009 Judge OKs Chrysler plan to terminate franchisesNEW YORK — A bankruptcy judge says Chrysler can go ahead with its plan to terminate the franchises of 789 of its dealers. U.S. Judge Arthur Gonzalez issued the order late Tuesday afternoon.
Court OKs Chrysler's sale to Fiat, but Supreme Court appeal likely; GM to spend $2B on DelphiJune 6th, 2009 GM and Chrysler's bankruptcy cases at a glanceA summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler Group LLC
GENERAL MOTORS — DAY 37
WHERE DOES IT STAND?: Tuesday marked Detroit-based GM's 37th day under bankruptcy court protection.
Delphi to sell assets to private-equity firm, emerge from Chapter 11June 1st, 2009 Delphi reaches deal to emerge from Chapter 11NEW YORK — Delphi Corp. said Monday that it reached a deal to sell some of its assets to a private-equity firm and emerge from bankruptcy protection.
Meltdown 101: What is a corporate bankruptcy, and how do the most common types work?June 1st, 2009 Meltdown 101: What is a corporate bankruptcy?NEW YORK — General Motors Corp.'s filing for bankruptcy protection on Monday highlights what many companies today face: the ugly scenario of having debts that far outweigh their assets. That means they can't pay their bills or their creditors in a timely fashion.
Bankruptcy judge to rule by Monday on Chrysler sale of most assets to Italy's Fiat GroupMay 30th, 2009 Judge to rule by Monday on sale of Chrysler assetsNEW YORK — A bankruptcy judge says he will rule by Monday on whether Chrysler can sell most of the company to a group headed by Italy's Fiat. U.S. Judge Arthur Gonzalez heard 11 hours of testimony and arguments Friday following marathon sessions the two previous days.
US Bankruptcy judge appears close to ruling on sale of Chrysler to Italy's FiatMay 29th, 2009 Chrysler appears hours away from Fiat sale rulingNEW YORK — Chrysler LLC could be hours away from a ruling on its plan to sell most of the company to a group led by Italy's Fiat Group SpA, a big step toward its goal of a speedy exit from bankruptcy protection. Closing statements on the sale began in U.S.
GM stock falls below $1, lowest trade since 1933 as Chapter 11 filing appears likelyMay 29th, 2009 GM shares fall below $1 as deadline approachesNEW YORK — Shares of General Motors Corp. fell below $1 on Friday for the first time in 76 years as the struggling automaker approached a government-imposed restructuring deadline and a likely filing for Chapter 11 bankruptcy protection.
Chrysler offers up to $6,000 in incentives on 2009 models to combat US sales slumpMay 6th, 2009 Chrysler offers up to $6,000 in incentivesNEW YORK — Chrysler LLC said Wednesday it is offering up to $6,000 worth of incentives on its 2009 vehicles as it races to emerge from bankruptcy protection and counter a prolonged U.S. sales slump.
Judge approves procedures for Chrysler sale of assets to Fiat, deal could close by end of JuneMay 6th, 2009 Judge OKs procedures for sale of Chrysler assetsNEW YORK — The judge overseeing Chrysler's Chapter 11 proceedings says the automaker can start taking steps toward selling the vast majority of its assets to Italy's Fiat. Judge Arthur Gonzales says the procedures proposed by Chrysler's lawyers represent a "clear and orderly process."
Attorneys for Auburn Hills, Mich.-based Chrysler LLC argued that the automaker had essentially been up for sale for most of the last two years and a speedy sale was needed in order to preserve the value of the company's assets.
Chrysler's president and vice chairman LaSorda leaves Chrysler effective immediatelyMay 2nd, 2009 Chrysler president LaSorda to retire immediatelyAUBURN HILLS, Mich. — Chrysler says its president and vice chairman, Tom LaSorda, is leaving the automaker immediately.
Chrysler is due in court today to start Chapter 11 bankruptcy proceedingsMay 1st, 2009 Chrysler is in court today for bankruptcy hearingNEW YORK — Attorneys packed a downtown Manhattan courtroom Friday morning for Chrysler's first hearing that may signal whether a quick, "surgical" bankruptcy will be possible for the automaker. The nation's third-largest automaker filed for bankruptcy protection Thursday with an ambitious plan to emerge in as little as 30 days as a leaner company.
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