A US court approved Tuesday a fast-track sale plan proposed by the White House to shore up bankrupt carmaker Chrysler. This decision clears the way for a possible partnership with Italian manufacturer Fiat.
AFP - A US bankruptcy judge approved Tuesday a fast-track sale plan proposed by the Obama administration to shore up ailing automaker Chrysler, clearing the way for a possible partnership with Fiat.
At the end of a hearing that lasted nearly eight hours, federal bankruptcy judge Arthur Gonzales rejected the arguments from a group of Chrysler lenders who called "illegal" the restructuring plan unveiled last Thursday by the iconic US automaker and the government.
Date created : 2009-05-06