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chapter 11

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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: Suzuki ending auto sales in Canada, too
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    Suzuki of Japan has reportedly made the decision that almost everyone assumed it would make when it announced it was leaving the US market: when the 2014 model year concludes, it will no longer sell cars in Canada. With six employees overseeing its auto business in Canada and a dealer network ...

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    Report: Suzuki demand in US rises after bankruptcy
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    Following word that Suzuki is ceasing car sales in America, it appears that demand for the Japanese automaker's wares have increased. According to The Detroit News, American Suzuki Motor Corp. will import an additional 2,500 vehicles to quench demand that has jumped since the company announced ...

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    Official: American Suzuki Motors files chapter 11, will no longer sell cars in the United States
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    As much as we knew it was a possibility, we have to say that Suzuki's announcement this afternoon that it is filing chapter 11 bankruptcy proceedings caught us a bit off guard. American Suzuki Motor Corporation - the sole distributor of Suzuki automobiles in the United States - will realign its ...

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    Report: BMW suing Saab Automobile Parts for $3.2M
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    Saab might be all but dead, but that's not stopping automakers that were once involved with the Swedish brand from attempting to reclaim losses. According to a Fox Business report, BMW has filed a 2.6 million Euro suit ($3.2 million USD) with a Swedish district court against Saab Automobile Parts ...

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    Report: Dealers trying to push Saab NA into bankruptcy
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    Saab North America acknowledged that the chances were exceptionally slim, but it hoped to avoid bankruptcy long enough to give another company a chance to buy it. Shortly after Saab NA appointed a third-party administrator, McTevia & Associates, it was decided there was no way to save the ...

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    Report: UAW files suit against GM over $450M Delphi debt
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    Once again, General Motors has found itself in hot water with the United Auto Workers. Way back when in 2007, GM signed a deal with Delphi to provide a total of $450 million for the UAW's Voluntary Employee Beneficiary – a trust set up to provide for retiree benefits, especially health care. ...

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    REPORT: New GM entitled to $16 billion in federal tax breaks courtesy of Old GM
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    Due to what appears to be a slight (additional) bending of the rules, the "new," post-bankruptcy General Motors has been allowed to carry the $16 billion net operating loss that was created by the "old" GM. That means that New GM will not have to pay taxes on its profits for a while, because the ...

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    BREAKING: New GM drives out of bankruptcy this morning [*UPDATED]
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    After a scant six weeks in bankruptcy court, General Motors is on its way out of Chapter 11. U.S. Bankruptcy Court Judge Robert Gerber approved the sale of GM's good assets to a new company lead by the U.S. and Canadian governments and the UAW healthcare fund, but gave vested parties four days to ...

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    REPORT: Federal bankruptcy court expected to rule on "New GM"
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    According to Reuters, General Motors is on its way into bankruptcy court today in an effort to win approval and access to additional federal funding under its asset-split plan. The automaker filed for Chapter 11 protection just 30 days ago, but it will now go before Judge Robert Gerber to sell ...

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    Bankruptcy filing reportedly allows GM, Chrysler to shed hundreds of product liability lawsuits
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    Outside of bankruptcy, General Motors and Chrysler were no longer competitive enough to remain solvent. After Chapter 11 reorganization, the two automakers will have a clean financial statement and a whole lot fewer employees, plants, and dealers. Another area where the two automakers will receive ...

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    Putting It In Perspective: Largest bankruptcies in U.S. history displayed graphically
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    Click above to view Good Magazine's largest bankruptcies in U.S. history infographic
    The benevolent-minded folks over at Good Magazine have commissioned infographic specialists Always With Honor to give us a little perspective on America's recent rash of bankruptcies. Using the 'sinking ship' ...

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    REPORT: GM to declare bankruptcy before markets open, chief restructuring officer named
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    General Motors' bankruptcy endgame appears to be at hand, with word coming out that the automaker will indeed file for Chapter 11 protection early on Monday morning, which in turn is expected to trigger $30.1 billion in U.S. government loans. That funding will arrive on the heels of the $19.4 ...

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    REPORT: Koenigsegg a finalist in bid to buy Saab
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    In a brief article on its website, the UK's Channel4 says that a Swedish newspaper, Dagens Industri, is reporting that supercar maker Koenigsegg is in the running to purchase either a stake in Saab, or the whole kit and caboodle.According to the report, Koenigsegg is reportedly a front-runner to ...

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    Bloomberg says GM to file for Chapter 11 bankruptcy on Monday
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    Despite today's word of coming to terms with its major shareholders on a debt-for-equity swap, Bloomberg is reporting that General Motors will join Chrysler in filing for Chapter 11 bankruptcy on Monday. The move is widely expected, but the news agency is adding a bit of flesh to the story, ...

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    BREAKING: Visteon reportedly files for Chapter 11 bankruptcy
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    According to Automotive News, Visteon Corp. has filed for Chapter 11 bankruptcy protection. The Michigan-based tier-1 supplier was spun off from the Ford Motor Company back in 2000, and it has struggled ever since. The filing took place in a Delaware courtroom, where the company has listed total ...

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    Speculation: Chrysler to cut loose 800 dealers on Thursday
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    Chrysler has a lot of work to do in bankruptcy court to be eligible to receive another $6 billion in loans from the U.S. government. Among the many tasks requiring completion is the reduction of its dealer body. Chrysler hasn't set a timetable or announced how many dealers will be cut, but one ...

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    REPORT: Obama administration slashes Chrysler ad budget by 50%
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    Chrysler is nearly two weeks into its bankruptcy, and the Auburn Hills, Michigan-based automaker is already getting an idea of just how engaged the Obama administration plans to be in the process. Chrysler planned to spend $134 million dollars on advertising during its supposed nine weeks of ...

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    Experts call GM bankruptcy 'almost inevitable' [w/POLL]
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    To stave off bankruptcy, General Motors must rework its union contracts, drastically cut its capacity, workforce and dealer networks – and convince creditors to take 10 cents on the dollar on $27 billion in unsecured debt. In two months. That's a herculean task for any company, much less for ...

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