Welcome to the North American Subaru Impreza Owners Club Friday January 19, 2018
Home Forums WikiNASIOC Products Store Modifications Upgrade Garage
Go Back   NASIOC > NASIOC General > News & Rumors > Non-Subaru News & Rumors

Welcome to NASIOC - The world's largest online community for Subaru enthusiasts!
Welcome to the NASIOC.com Subaru forum.

You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, free of charge, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, so please join our community today!

If you have any problems with the registration process or your account login, please contact us.
* Registered users of the site do not see these ads. 
Thread Tools Display Modes
Old 04-23-2009, 10:44 AM   #1
Scooby Guru
Member#: 73805
Join Date: Nov 2004
Location: NEPA
forward in Italian

Default New offer made to Chrysler lenders


AP Source: Treasury offers stake in Chrysler-Fiat deal

NEW YORK - A person familiar with the matter says the Treasury Department has made a new offer to Chrysler LLC’s creditors.The Treasury is asking banks and hedge funds that hold $6.9 billion in debt to forgive $5.4 billion in exchange for a 5 percent stake in a Chrysler-Fiat alliance.

The person says the latest terms were made to the group late Tuesday. The person asked not to be named because the negotiations are private.

The offer marks the latest round of haggling between Chrysler and its creditors as the troubled automaker seeks to avoid liquidation. The new offer is a counter to the lenders’ offer to forgive $4.5 billion in exchange for a 40-percent stake in the alliance.

A Chrysler spokeswoman declined to comment.
* Registered users of the site do not see these ads.
AVANTI R5 is offline   Reply With Quote
Sponsored Links
* Registered users of the site do not see these ads.
Old 04-23-2009, 05:41 PM   #2
Scooby Guru
Member#: 7164
Join Date: Jun 2001
Location: Arizona Bay
2000 Miata LS
Evo Orange Mica (1/644)


...6 more days...

DETROIT (Reuters) – The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported on Thursday, citing people with direct knowledge of the matter.

The Treasury has an agreement in principle with the United Auto Workers union to protect pensions and retiree health care benefits as a condition of the bankruptcy filing, the paper said.

Italy's Fiat would finalize its alliance with Chrysler while the U.S. automaker is under bankruptcy protection, the paper reported.

Chrysler has until April 30 to complete its partnership with Fiat and win concessions from its first-lien lenders and the UAW, or face a cut-off of government funding and a potential bankruptcy.

The Times said U.S. and Canadian governments were prepared to provide the financing that Chrysler needed to operate while under bankruptcy protection.

Chrysler was not immediately available for comment.

(Reporting by Soyoung Kim, editing by Leslie Gevirtz)

Last edited by Spenk; 04-23-2009 at 05:59 PM.
Spenk is offline   Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Chrysler lenders win one-day delay AVANTI R5 Non-Subaru News & Rumors 0 05-04-2009 02:43 PM
Chrysler offers buyouts to hourly Detroit workers lambtor Non-Subaru News & Rumors 3 01-28-2008 10:42 PM
Chrysler to offer rebates to cut dealer stocks BlownGasket Non-Subaru News & Rumors 1 11-09-2007 02:07 PM
subie offer on new 2004 2005 to good to be true? Monas South East Region Forum 4 05-26-2004 09:58 AM
Old school made to look new? nick robinson Interior & Exterior Modification 6 01-03-2003 01:01 AM

All times are GMT -4. The time now is 01:45 AM.

Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Powered by Searchlight © 2018 Axivo Inc.
Copyright ©1999 - 2017, North American Subaru Impreza Owners Club, Inc.