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US court clears way for Chrysler-Fiat deal

Latest update : 2009-05-06

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

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