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On Sunday, May 31, 2009, bankruptcy judge Arthur J. Gonzalez approved a proposed government restructuring plan and sale of Chrysler's assets. The sale allows most of the assets of Chrysler to be purchased by a new entity in which Fiat would own 20%, and the autoworker's union retirement health care trust (voluntary benefit association "VEBA") 55%, with the U.S. and Canadian government as ...
At the time it filed for bankruptcy, [2] the company had already been in talks with various prospective buyers for individual dealerships. [11] NASCAR team owner and automobile dealer Rick Hendrick was mentioned as a possible buyer, as well as a dealer from San Diego, California . [ 11 ]
An automobile dealership in Orland, California which closed after General Motors cut ties with it and several hundred other dealers as part of its Chapter 11 bankruptcy restructuring efforts in 2009 [1] Beginning in the latter half of 2008, a global-scale recession adversely affected the economy of the United States.
Fisker Inc. will wind down operations under a bankruptcy plan approved Friday that should allow owners to drive their cars for years. But it will not pay anything to shareholders wiped out ...
Ant Anstead's bespoke carmaker, Radford Motors, has filed for Chapter 11 bankruptcy. The Oct. 22 filing came after he was accused of fraud and misrepresentation, according to documents obtained by ...
Key takeaways. Chapter 7 bankruptcy may allow you to exempt your vehicle if its value is under the exemption limit. The federal bankruptcy exemption limit is $4,450 until 2025, but it can vary by ...
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