HOLDEN ANNOUNCED late last night that it is to continue normal operations in Australia and New Zealand, and will not be adversely impacted by General Motors’ filing for bankruptcy protection in the US.

In news certain to be welcomed by the Rudd Government and Holden’s employees and suppliers, Holden said there will be no direct impact [...]

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THE PATH HAS BEEN cleared for Fiat SpA to take the reins at Chrysler after US Bankruptcy Judge Arthur Gonzalez today announced his ruling approving the sale.
“The sale motion is granted in its entirety and entry into and performance under and in respect of the purchase agreement and the sale transaction is approved,” Judge Gonzalez [...]

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WITH THE JUNE 1 DEADLINE for restructure now just days away, reports that GM is likely to file for Chapter 11 bankruptcy next week are gaining ground in the US.

Both the Washington Post and Associated Press are leading with the view that President Barack Obama will bring the curtain down on GM next week, putting [...]

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What will US Chrysler’s Chapter 11 filing and global strategic alliance with Fiat mean for Chrysler Australia and its Australian customers? TMR spoke with Jerry Stamoulis, Manager Public Relations, Chrysler Australia.
“The most important thing to understand is that the bankruptcy filing only involves Chrysler US: Chrysler Australia does not fall under the bankruptcy,” Mr Stamoulis [...]

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Chrysler LLC has filed for Chapter 11 bankruptcy overnight and at the same time announced what is being referred to as an ‘industry-changing’ deal with Fiat.

Chrysler has spent weeks negotiating with its lenders in an attempt to avoid bankruptcy, but has failed to gain the support needed.

This is the best result given Chrysler’s huge restructuring [...]

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Word on the wire is that US President Barack Obama will announce that Chrysler LLC will be placed into Chapter 11 bankruptcy, a move which will enable Chrysler to continue operations while temporarily relieving it of its substantial debt obligations.

Chapter 11 bankruptcy protection has been a likely option for some time now, and, perhaps strangely, [...]

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During an interview with US television show Political Capital With Al Hunt, US Treasury auto adviser Steve Rattner suggested that the talks between GM and its debt holders may need an official deadline to finally reach a resolution.

It now looks like that day may soon be at hand, reports GM Inside News, with the US [...]

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Way back in September last year, we reported that renowned Japanese after-market performances parts manufacturer TRUST had found itself in debt to the tune of AUD$91.5m and had filed for bankruptcy. It said then that it planned to use this protection to get the business back on its feet.

The good news today is that the company has [...]

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Checker Motors, the 87 year-old company responsible for building America’s most iconic taxi, has filed for Chapter 11 bankruptcy protection after rising raw material costs and a dwindling market share left it with enormous bills and a long line of creditors.

Curiously, Checker Motors hasn’t built a single taxi since 1982, when increased labour costs and [...]

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More bad news for the US auto industry. A US division of gearbox manufacturer Getrag has filed for Chapter 11 bankruptcy protection after Chrysler launched legal proceedings against it over an unfinished transmission plant in Indiana

Chrysler’s lawsuit alleges that Getrag Transmission Manufacturing violated a contract after it failed to secure around $300m US in debt [...]

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