Wednesday, April 29, 2009

Chrysler Bankruptcy Likely Tomorrow?

Multiple sources say Chrysler is likely to file bankruptcy tomorrow (Thursday). There are several holdout creditors that refused the haircut terms that the major secured lenders approved. The government even raised the offer by $.25 billion, to $2.25 billion, but it didn't work.

Actually, I wouldn't be surprised if Chrysler didn't file Chapter 11 tomorrow because I don't see what the hurry is at this point.

More later - maybe

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