Adhesives Magazine

Chrysler Debt Plan Jeopardized by Bank Holdouts (4/29/09)

April 29, 2009

According to an article in the Business section of today’s New York Times, the debt plan designed by the Obama administration and the Treasury Department to save Chrysler could be derailed by some of the company’s 46 creditors who are unwilling to accept the terms of the agreement, which includes $2 billion in cash in exchange for the elimination of $6.9 billion in secured debt.

To read the full article, click here.