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bankruptcy

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    Followup: Caterham F1 Team to make season finale, still lays off 230 workers
    1416230100

    When the chips were down, and looked down for the count, the Caterham F1 Team launched a crowd-funding campaign to get back on the grid in time for the season finale. And now, it seems, they have succeeded. The troubled back-marker team seems to have changed leadership this season as many times ...

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    Report: GM faces $2B hit if bankruptcy protection provision fails
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    General Motors could face settlements totaling near $2 billion if US bankruptcy judge Robert Gerber rules that executives knew the company might be liable to owners of cars with faulty ignition switches built before its July 2009 bankruptcy. An additional $500 million, according to calculations ...

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    Motorsports: Marussia F1 team also declares bankruptcy
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    It looks like the 2014 FIA Formula One World Championship will wrap up with two fewer teams than it started. First the Caterham F1 team declared bankruptcy amidst an ownership dispute, and now the Marussia team has gone into bankruptcy administration as well. Alongside Caterham (then flying the ...

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    Motorsports: Caterham F1 manufacturer files for bankruptcy
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    Caterham is hardly the most stable and successful team on the Formula One grid, but things are looking even more troubling for the embattled outfit, as the company that makes its racecars has reportedly filed for bankruptcy protection. The company in question, Caterham Sports Limited, is ...

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    Report: Wiesmann still hoping for savior
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    The saga of Wiesmann dates back to the late 1980s when a pair of German brothers set out to make retro sports cars. The first model was built in 1993 and a steady stream of new coupes and convertibles powered by a variety of BMW engines trickled out of the factory ever since until the company ran ...

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    Report: Saab owners NEVS denied creditor protection by Swedish court
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    The story of Saab is practically a Greek tragedy at this point. The quirky Swedish automaker that was once known as a pioneer of affordable turbocharging has been followed by years of news that just seemed to keep getting worse. At this point, maybe the brand name should be allowed to fade away ...

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    Report: Saab's latest Chinese owners facing their own credit woes
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    Poor Saab, it can't seem to get a break. General Motors couldn't seem to make a go of it, neither could Spyker, and now it seems that its latest owner is encountering some problems of its own. That owner, of course, is National Electric Vehicle Sweden, a Swedish holding company owned by Chinese ...

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    Report: Bertone can't part out historically protected collection despite looming bankruptcy
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    Some companies can survive long after their founder has left the building, while others are so centered around the identity of one individual that everything unravels in their absence. And there's arguably no place that can be seen more clearly than in the Italian automobile industry. Companies ...

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    Read This: Former Treasury boss unaware auto task force fired GM's Wagoner
    1400103900

    We dig a good political tell-all every once in a while (how else will we get our political fix while waiting for House of Cards' third season?). Today, we get just that from former Treasury Secretary Timothy Geithner's new book, "Stress Test," which details, among other parts of the 2009 financial ...

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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
    1376575260

    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
    1375992060

    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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