RSSChrysler to get up to $8B from govt for bankruptcy
Carolyn Hileman - The Voice | April 30, 2009
WASHINGTON – Chrysler will file for Chapter 11 bankruptcy protection in New York on Thursday and will be eligible for up to $8 billion in federal aid to rebuild the ailing automaker, according to senior administration officials.
The officials say bankruptcy is necessary after talks with some of Chrysler’s holdout creditors over the company’s $6.9 billion in debt fell apart last night.
The officials requested anonymity because the details have yet been released.
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