- May 5, 2009
REPORT: Chrysler pursuing clause to award Fiat $35 million if deal falls apart
Chrysler is currently pursuing the clause in the courts administering its bankruptcy protection. The reasoning is that Fiat has put in the time and money into pursuing the partnership that would allow Chrysler to continue operating, and if the courts – or anyone else, for that matter – were to terminate the arrangement, Fiat would deserve compensation. A similar clause worked out well for Fiat after its partnership with General Motors was terminated. The tables now turned, Fiat has certainly come a long way since then.
[Source: The Detroit News | Image: Chris McGrath/Getty]