01/05/2009 Chrysler Files to Seek Bankruptcy Protection
In-Depth Look - Chrysler Files Bankruptcy - Bloomberg
Obama Backs Chrysler Bankruptcy As Wise Move
Chrysler LLC filed a consolidated petition for chapter 11 bankruptcy alongside its 24 affiliated subsidiaries. They announced an alliance with Fiat, after the failure of the company to agree on a restructuring plan with its creditors. The plan was to reduce the liabilities of the company and emerge in stronger financial shape.
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