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Chrysler bankruptcy petition document

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Published April 30, 2009 at 1:30 PM

chrysler-300c-125x100.jpgPresident Obama said Thursday that Chrysler LLC will drive into Chapter 11 protection after a last-minute scramble to get the automaker's lenders to agree to an out-of-court restructuring proved unsuccessful.

The ailing Auburn Hills, Mich., automaker filed for protection from creditors in the U.S. Bankruptcy Court for the Southern District of New York. The move ended a valiant effort to avoid a filing. - Lou Whiteman

Chrysler Bankruptcy Petition

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