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You are currently browsing the Allpar Chrysler, Dodge, and Jeep News news archives for 'creditors' tag.
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Judge Arthur Gonzalez has given Chrysler’s unsecured creditors permission to sue Daimler AG, with the claim that Daimler took away Chrysler’s most valuable assets before selling it to Cerberus Capital Management. The group is seeking over $3 billion in debt. The details of the suit have not been released. However, it appears that the Treasury could [...]
OppenheimerFunds and Stairway Capital Management, two of the Chrysler debt holders opposed to the proposed Chrysler bankruptcy plan, have dropped out of the Chrysler Non-TARP Lenders Group and withdrawn their objections. In a statement released this morning, Bruce Dunbar of Oppenheimer said, “OppenheimerFunds, Inc. shares the goals of all Chrysler stakeholders seeking to strengthen the [...]
The majority of Chrysler’s secured creditors have agreed to a deal with the U.S. Treasury, a move that bolsters the automaker’s hopes for a quick passage through bankruptcy. In all, more than 100 funds agreed to the plan. The group will swap $6.9 billion in first-tier secured debt for $2 billion in cash. That’s $250 [...]
Diana Adams, Chrysler’s U.S. bankruptcy trustee, today appointed eleven members to the committee of unsecured creditors. The committee will represent the interests of all creditors in the proceedings. The members, including three dealers and four suppliers, named today include: • Zanetti Chrysler-Jeep-Dodge, New York City, New York • Darcars Imports Inc., Silver Spring, Maryland • [...]