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Tag Archive for 'Daimler'Dodge Sprinter to be dropped September 1st, 2009 by Bill Cawthon
Mercedes-Benz USA announced today that it will assume responsibility for the sales, marketing, distribution and service of Mercedes-Benz and Freightliner Sprinter vans in the U.S. The German automaker will create Daimler Vans USA, LLC as a wholly-owned subsidiary of Daimler AG. Sales of Mercedes-branded Sprinters will begin in 20010. Chrysler creditors sue Daimler August 18th, 2009 by DaveAdmin
Having won the right to do so from Judge Gonzalez, a group of Chrysler unsecured creditors have now filed suit against Daimler, accusing the conglomerate of taking billions of dollars worth of assets from Chrysler before transferring it to Cerberus two years ago. By removing those assets, according to the creditors, Daimler made it impossible [...] Chrysler creditors can sue Daimler August 13th, 2009 by DaveAdmin
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. Chrysler creditors want to sue Daimler AG August 5th, 2009 by Bill Cawthon
Creditors of the former Chrysler LLC have asked Judge Arthur Gonzalez, who continues to preside over the Chapter 11 bankruptcy of Old Carco, the company created to dispose of the automaker’s abandoned assets, for permission to sure former owner Daimler AG. Post: Chrysler creditor deal concluded April 28th, 2009 by DaveAdmin
According to the Washington Post, Chrysler’s creditor group has reached an accord with the Treasury Department which will, coupled with this week’s union deals, prevent bankruptcy. A group of 45 financial firms have agreed to drop their debt demand from $6.9 to $2 billion and around 10% of the company’s equity, shared with the U.S. [...] Daimler AG gives up Chrysler stake, writes off $700M April 27th, 2009 by Bill Cawthon
German automaker Daimler AG has agreed to give Cerberus Capital Management its 19.9 percent share of Chrysler LLC and write off a $1.5 billion loan, helping the Detroit automaker to clear way for the Detroit automaker’s proposed alliance with Fiat SpA and avoid bankruptcy. Cerberus, Daimler still at odds over Chrysler April 9th, 2009 by Bill Cawthon
Even as the clock ticks off the minutes until Chrysler’s April 30 “do-or-die” deadline, one of the issues facing the automaker appears no closer to a resolution: the 19.1 percent of the company still owned by Daimler AG. |
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