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Bailout
: Calculated RiskChrysler Deal Collapses, Bankruptcy all but Certain
By Anonymous
Last-minute efforts by the Treasury Department to win over recalcitrant Chrysler debtholders failed Wednesday night, setting up a near-certain bankruptcy filing by the American automaker ... Chrysler was expected to seek Chapter 11 protection on Thursday ...It sounds like the Administration expects a short bankruptcy. It will be interesting to see if the debtholders do better than the $2.25 billion they were offered.
Full post as published by Calculated Risk on April 30, 2009 (boomark / email).
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