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AP: Judge approves Treasury-Chrysler financing

by David Zatz on

Judge Gonzalez has approved the use of $4.5 billion in government loans to Chrysler by the Treasury and Canadian government while the company is in bankruptcy. He also approved of the company’s payment of $8 billion in taxes owed, customer and dealer obligations, and suppliers’ debts for materials or services already provided. The moves makes approval of the Fiat sale plan more likely, as it helps keep Chrysler alive as a united entity.  (Thanks for the tip, Solo.)

David Zatz founded Allpar in 1998 (based on a site he had begun in 1993-94), after years of writing reviews for retail trades. He has been quoted by the New York Times, the Daily Telegraph, the Detroit News, and USA Today. Before making Allpar a full-time career, he was a consultant in organizational psychology. You can reach him by using our contact form (much preferred) or by calling (313) 766-2304

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