AM Online

GM and Chrysler could be forced into bankruptcy

The US Treasury may adopt a plan that would allow them or a car czar to force General Motors and Chrysler into bankruptcy.

This would only happen if the carmakers don't show they can survive without Government aid, reports

GM and Chrysler would be required to submit viability plans by March 31 or lose any further U.S support., Michigan democrat Carl Levin told reporters in Detroit yesterday.

GM and Chrysler both said they do not have enough money to see out this year and need $4bn and $7bn respectively to get them through to January.  


If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.