bankruptcy court


REPORT: If Chrysler liquidates, 38,500 jobs would be lost

A court filing by the legal firm Jones Day estimates that 38,500 Chrysler workers will lose their jobs if the bankrupt automaker fails to quickly form an alliance with Fiat SpA and is forced to liquidate. In addition, if the deal with Fiat is rejected Chrysler LLC employees will lose $9.8 billion in benefits and $2 billion in pension payments, according to the legal team. "Time is of the essence," said attorney Corinne Ball. The lawyers, in court seeking to organize the company's 25 affiliates into a one bankruptcy proceeding, stressed in ... Read more →

TRUST successfully reorganized in Japan, GReddy in the U.S. churning along Damon Lavrinc

This past September, Trust Co. LTD – the parent company of GReddy Performance Products in the U.S. – declared the Japanese equivalent of Chapter 11. According to a release from the ...

GM suing supplier to keep Camaro production going Jonathon Ramsey

Every time GM turns a corner it seems to come face to face with another obstacle. The latest setback concerns supplier Cadence, LLC, which provides interior parts for the 2010 Camaro. Cadence ...

POLL: Would you buy a car from a company in bankruptcy? Sam Abuelsamid

In recent weeks, the idea that one or all three of Detroit's automakers could end up filing for chapter 11 bankruptcy protection in the coming weeks or months has gained a lot of momentum. In theory, ...

GM stock drops below $10 per share Michael Harley

After Merrill Lynch hinted bankruptcy concerns yesterday, and other Wall Street analysts spread additional gloom, shares of General Motors dropped $1.77 to close at $9.98 -- GM's lowest close in more ...

GM's CFO expects Delphi deal in 30 to 60 days 3 years ago on Autoblog

The word is out that General Motors' Chief Financial Officer Fritz Henderson told a meeting of investment analysts this week that he expects a deal with Delphi and the United Auto Workers within 30 to 60 days - a prediction that left some analysts shaking their heads, believing that Henderson is ...

Delphi, unions fight it out in court 3 years ago on Autoblog

Bankrupt auto parts manufacturer Delphi and the unions representing its 33,0000 workers had their first day in court Tuesday, as the U.S. Bankruptcy Court opened its hearing on Delphi's request for permission to terminate its labor contracts with the unions. Although Delphi says that it would not ...






Autoblog Podcast #154: Gobbling up the News

Chris, Sam, and Dan kick out a podcast just in time for the long holiday drive.

 
 

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