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bankruptcy

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    Report: Chrysler dealers terminated in bankruptcy still stuck in court
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    Part of the deal for the federal bailouts of Chrysler and General Motors was that both organizations were required to trim their vast array of dealerships. This move did not sit well with the people that would be losing out on franchises, though, and in Chrysler's case, 148 of the shuttered ...

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    Report: Bertone goes bust
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    The famous Italian coachbuilder and designer Bertone may be on its deathbed. The company that penned the beautiful shape of the Lamborghini Miura has been facing financial hardships for months, and Autocar is reporting that the Turin, Italy firm has just declared bankruptcy. The last we heard ...

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    Report: Wiesmann's speedy exit from bankruptcy stalls
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    After German boutique sports car manufacturer Wiesmann filed for bankruptcy in August last year, we thought order had been returned to the world when the company announced in November that it had applied to dismiss the insolvency proceedings. Little was known about the entry into and the request ...

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    Report: Bertone nearly bankrupt again?
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    Times are tough for coachbuilders these days. Karmann shut down a few years ago. Pininfarina only returned to profitability a year ago for the first time in nearly a decade. Italdesign Giugiaro has been subsumed into the Volkswagen Group (and not a moment too early). Fisker shifted from rebodying ...

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    Breaking: Wiesmann pulls itself out of bankruptcy
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    There's been a raft of bankruptcies declared among niche European automakers recently. In the past year, the Cosworth, Gumpert, Artega, Lola and the London Taxi Company have all gone the way of the dodo. But the one we were most gutted by was Wiesmann. The German producer of retro sportscars and ...

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    Report: Fisker's remains on the auction block this week
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    How will a federal government that is partially shut down sell an automaker that is all-but-shut-down? We'll find out Friday when the Department of Energy starts an auction for what is left of Fisker's assets, according to TheDetroitBureau.com. The DOE said last month that auctioning off the ...

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    Report: Porsche tuners 9ff, SpeedArt going bankrupt
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    Times are tough in Europe right now, and that unfortunately has reaped disastrous consequences for some of its smallest niche automakers. Gumpert, Wiesmann, Artega and Lola have all filed for bankruptcy this year, and it appears that tuners are not immune to the tough times, either. Word coming ...

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    Read This: Is Detroit killing itself with cars?
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    Detroit's bankruptcy is still a fresh wound, and it's slowly but surely becoming infected as people start looking for something – anything – to sell to pay the city's debts. While the sale of the Detroit Institute of Art's collection of paintings has been well publicized for those of ...

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    Report: Wiesmann files for bankruptcy
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    German sports car manufacturer Wiesmann has reportedly filed for bankruptcy. The filing, which was made to a German district court in Münster, didn't specify any of the financial details that led Martin and Friedhelm Wiesmann to this point. The small-scale manufacturer's collapse isn't a ...

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    Report: Court upholds pension cuts to 100 retired GM execs
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    100 retired executives from General Motors will soldier on with smaller pensions after a trio of judges in the Sixth Circuit Court of Appeals in Cincinnati, ruled in favor of the automaker. The dispute stemmed from the requirements made by the Obama administration as part of GM's bankruptcy and ...

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    Report: Detroit pins hopes to bankruptcy as Motor City sags
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    Detroit. The Motor City. Motown. Hitsville, USA. Hockeytown. The largest municipality ever to file for bankruptcy in US history. You can add that last one to Detroit's many titles, as Republican Governor Rick Snyder authorized emergency manager Kevyn Orr to file a petition for bankruptcy ...

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    Report: Saab US bankruptcy plan gets legal green-light
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    It feels utterly bizarre that we're still talking about Saab, but Reuters is reporting that the bankrupt Swedish manufacturer's American arm has gotten approval from the US Bankruptcy Court to liquidate its assets and pay back creditors. As part of the plan, secured creditors like Ally Financial ...

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    Report: Carbon Motors officially files for bankruptcy, lawsuits follow
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    So much for Carbon Motors. The would-be police pursuit vehicle manufacturer has officially filed for Chapter 7 bankruptcy (read: liquidation) according to the Indianapolis Business Journal. The company officially lists its liabilities at $21.7 million and its assets at a mere $18,976, including ...

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    Report: Henrik Fisker bidding with Hong Kong tycoon to get his company back
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    Struggling to save Fisker Automotive from the of talons of bankruptcy, Henrik Fisker has teamed up with Hong Kong billionaire Richard Li to offer to purchase the company's outstanding U.S. Department of Energy's (DOE) advanced vehicles loan for just a fraction of its $171 million balance (the ...

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    Official: Court approves Suzuki bankruptcy plan
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    Suzuki has won approval for its Chapter 11 plan to stop selling cars in the US and concentrate instead on the company's powersports products. Judge Scott C. Clarkson of the US Bankruptcy Court for the Central District of California approved the plan after the company's creditors agreed to the ...

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    Report: Detroit's new emergency city manager worked on Chrysler bankruptcy [w/video]
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    Kevyn Orr, the new emergency city manager of Detroit, has a history with one of Michigan's most famous residents: Chrysler. Governor Rick Snyder (at right) appointed Orr to the position yesterday with the belief that Detroit needs outside assistance to right the city's mounting financial ...

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    Official: Suzuki Chapter 11 bankruptcy plans approved by US court
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    It's pretty much a done-deal now, folks. A US bankruptcy judge has approved Suzuki's plans to wind down its operations in the States. As part of Suzuki's Chapter 11 proceedings, its automotive unit will cease to exist in the US, leaving the motorcycle, ATV and marine units to function as Suzuki ...

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    Report: London Black Taxi manufacturer sold to China's Geely
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    Geely, the Chinese company that also owns Volvo, now owns Manganese Bronze Holdings (MBH), makers of London's Black Cab. MBH went into administration late last year, and some had looked to Geely to rescue the company in which it had a 19.7-percent equity stake. Although it's taken three months to ...

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    Report: GM may face $918-million loss due to suit stemming from bankruptcy
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    General Motors may see a loss of $918 million should a bankruptcy judge rule certain hedge funds were favored over other investors during the automaker's 2009 restructuring. A trust representing a number of unsecured creditors has sued to undo a lock-up agreement that saw hedge funds receive ...

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    Report: A123 winning bid from China's Wanxiang prompts concern in Congress
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    The Detroit News reports that China's Wanxiang Group Corporation will acquire almost all of bankrupt A123 Systems Inc. for $256 million. The deal includes all of the American battery manufacturer's grid and commercial business assets as well as the company's facilities in Michigan, Massachusetts ...

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