Tuesday, April 21, 2009

Up date on Chrysler Negotiations with its lenders: Banks Reject U.S. Terms for Cutting Chrysler Debt - WSJ.com

 

The lenders have told Treasury officials they believe they could recover at least 65% of their loans if Chrysler is liquidated in bankruptcy.

In their counteroffer, the lenders blasted the government's proposal as unfair. They said it is "in no way a shared sacrifice."

Banks Reject U.S. Terms for Cutting Chrysler Debt - WSJ.com

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