prepackaged bankruptcy

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Judge Blesses Chrysler Deal; Bankruptcy Could End Today

(Newser) - Chrysler could shed its bankruptcy protection as soon as today, the Wall Street Journal reports, after Judge Arthur Gonzalez greenlighted the sale of the automaker's assets. Some Chrysler dealers and a group of Indiana pension funds had opposed the deal, which will split Chrysler between Fiat, the UAW, and US... More »

Chrysler Bankruptcy Faces Bumpy Road

(Newser) - The battle to restructure Chrysler is about to go public, and could get messy, Michael de la Merced writes for the New York Times. After failing to get all the automaker’s debt-holders in line, the government prepared a “prepackaged bankruptcy,” a Chapter 11 filing with a reorganization... More »

Obama Team Weighs Streamlined Auto Bankruptcy

A 'prepackaged' plan likely would include government financing, take less time

(Newser) - Barack Obama’s transition team is looking at a streamlined, “prepackaged” bankruptcy for the Big Three automakers, Bloomberg reports. In a “prepack,” the companies already would have financing lined up when they go to court, and would have to reach agreements with banks, workers, and suppliers. The... More »

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