Entries tagged "Chater 11"
It's back to the drawing board for General Motors Corp. and Chrysler LLC. The two automakers may be able to put off filing for bankruptcy for a few months, but according to Jeff Marwil, an attorney at law firm Winston & Strawn LLP, the government's $17.4 billion short-term loan package could be a waste. While the deal immediately gives the companies $13.4 billion in loans, with another $4 billion likely available in February, the companies still have to restructure extensively, and filing for bankruptcy may be the only way to do that. ...
Here are some of the latest bankruptcy stories our reporters have been covering Friday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider....