[Ufficiale] Alleanza Fiat - Chrysler

[ItalianDriver]

Certo che a lavoro non ho molto tempo per leggere ma a volte e meglio...

[T a u r u s]

notizie positive dagli Stati Uniti...

Chrysler court decision could quicken bankruptcy exit

MAY 26, 2009 - 12:01 AM ET

UPDATED: 5/26/09 5:29 P.M.ET

NEW YORK (Reuters) -- A federal judge denied today a request by a dissenting lender group to delay bankrupt automaker Chrysler LLC's sale hearing and remove the bankruptcy case to district court.

After a federal court hearing in Manhattan today, U.S. District Judge Thomas Griesa said he would deny a motion by a group of Indiana pension funds claiming the government did not have the authority to provide funds to Chrysler for its proposed sale. The funds had asked the judge to prevent Chrysler's scheduled sale hearing in bankruptcy court on Wednesday from going forward, but the Judge also denied that request.

A source familiar with the government's position on the Chrysler bankruptcy called the decision a "significant victory."

The government now feels confident Chrysler will emerge from bankruptcy ahead of schedule, which has been loosely defined as 30 to 60 days.

"We're pretty close to the end," the source said.

Chrysler is seeking approval this week to sell itself to a "New Chrysler" owned by the U.S. and Canadian governments, Chrysler's union and Italian carmaker Fiat S.p.A.

Judge Griesa said he would explain his decision in a formal opinion later today. He said objecting parties should have a "fair" opportunity to appeal the bankruptcy judge's ruling on the sale at a later date.

Neil Roland contributed to this report

[Regazzoni]

notizie positive dagli Stati Uniti...

[effecube]

"Se non ci fosse stato l'intervento del Governo, con il decreto anti crisi ed in particolare quello per gli incentivi per il settore auto, la Fiat non avrebbe certo potuto acquisire Chrysler nè tanto meno avrebbe potuto concorrere all'acquisizione di Opel."

Calderoli dixit.

[J-Gian]

Vabbé, direi che le dichiarazioni dei politici possiamo evitare di commentarle

[Regazzoni]

Sorvoliamo.

E' solo meglio. 8)

[T a u r u s]

Lunedi il verdetto su vendita migliori asset Chrysler LLC alla newco Chrysler Group LLC guidata da Fiat

Chrysler bankruptcy judge to rule Monday on Fiat sale

AUTOMOTIVE NEWS

MAY 29, 2009 - 9:16 AM ET

UPDATED: 5/29/09 10:20 P.M. ET

NEW YORK (Reuters) -- The U.S. bankruptcy judge overseeing Chrysler LLC's bankruptcy case said on Friday he would issue an opinion "sometime on Monday" on the automaker's proposed sale of most assets to a new company run by Italy's Fiat S.p.A.

The sale seeks to create a "New Chrysler" owned by Fiat, the UAW and the U.S. and Canadian governments, in exchange for $2 billion paid to its lenders.

Unwanted plants and businesses would remain in bankruptcy court, although the company's chief financial officer said some unsecured claims may get nothing.

If approved, the plan would vindicate the White House, which had been criticized by many bankruptcy specialists for setting a seemingly unrealistic goal of bringing the automaker's operations through Chapter 11 within 30 days.

Opponents arguing against the sale included debtholders, rejected dealers, and product liability claimants. Chrysler has proposed closing 789 dealerships, about a quarter of its network of franchises, and many of those dealers objected to the deal as well.

Chrysler filed for bankruptcy on April 30. Its bigger U.S. rival General Motors is expected to file for court protection on Monday.

[effecube]

Sorvoliamo.

E' solo meglio. 8)

[T a u r u s]

E' fatta, ieri notte il giudice ha approvato la vendita dei migliori asset di Chrysler LLC al gruppo guidato da Fiat.

Chrysler Wins Assent to Sell Assets to Fiat-Led Group (Update1)

By Christopher Scinta, Jef Feeley and Dawn McCarty

June 1 (Bloomberg) -- Chrysler LLC won court approval to sell most of its business to a group led by Italy’s Fiat SpA, a deal intended to fire up its idled manufacturing plants and resume an 84-year history of selling American cars.

U.S. Bankruptcy Judge Arthur Gonzalez approved Chrysler’s sale in a ruling filed at 11.15 p.m. last night in Manhattan. The sale faced more than 300 objections. Gonzalez overruled those that weren’t withdrawn or resolved.

The carmaker is selling itself to an entity owned by Fiat, a union benefit trust, the U.S. Treasury and the Canadian government. The Auburn Hills, Michigan-based company will get $2 billion in cash to distribute to secured lenders holding $6.9 billion in loans. Turin-based Fiat can walk away from the sale if it doesn’t close by June 15, with a one month extension for antitrust approvals. The company didn’t receive any other bids for its assets, attorneys said.

“Not one penny of value of the debtors’ assets is going to anyone other than” lenders who deserve it, the judge wrote in the 47-page ruling. The U.S. and Canada, “have made the determination that it is in their respective national interests to save the automobile industry, in the same way that the U.S. Treasury concluded that it was in the national interest to protect financial institutions.”

Creditors had argued the the government set an artificially urgent schedule for the deal. Once the sale closes, the eight manufacturing plants Fiat isn’t taking will be liquidated in the bankruptcy. Chrysler’s 22 U.S. factories with about 26,800 hourly workers were shut down May 1.

Obama’s Task Force

Chrysler’s bankruptcy is being funded by $4.9 billion in loans from the U.S. and Canada and the two governments have agreed to provide about $8 billion in loans to the new company once it emerges from bankruptcy. President Barack Obama’s Auto Task Force took a substantial role in negotiating with Chrysler’s creditors, officials have said.

Chrysler Chief Executive Robert Nardelli testified at a May 28 hearing the company was ready to close the deal as soon as Gonzalez granted approval. At the end of the May 29 session of the hearing, Gonzalez said he would reserve his decision until today. Lawyers for the Indiana pension funds that are fighting the sale have indicated they will appeal the decision to the U.S. District Court.

Chrysler spokesman Fred Spar didn’t immediately respond to a phone call or voicemail outside of normal business hours.

Tarp Money

At a May 29 hearing, attorneys for the pension funds argued the U.S. Treasury violated the Constitution and the terms of Troubled Assets Relief Program through its involvement with restructuring Chrysler. Gonzalez ruled in a separate opinion the funds don’t have standing to challenge the administration’s use of TARP money.

Gonzalez wrote in his decision that it wasn’t his job to interject himself into “the business judgment of the entity funding the transaction, even if that lender is the government.”

Fiat’s 20 percent stake in the new company could be increased to 35 percent if certain milestones are met.

Prior to reaching the agreement with the Fiat group, the company had been seeking to sell itself or form an alliance with other automakers worldwide for more than a year, Chrysler adviser Robert Manzo of Capstone Advisory Group LLC previously testified.

Since Fiat was the only automaker willing to join with Chrysler, the company’s board “was faced with either accepting the Fiat Transaction or liquidating,” Gonzalez concluded.

GM’s Bankruptcy

General Motors Corp., the world’s largest automaker for 77 years, will file for bankruptcy today, and emerge with majority ownership by taxpayers and liabilities reduced by more than 50 percent, the U.S. government said.

Chrysler, founded by Walter Chrysler in 1925, filed for Chapter 11 bankruptcy on April 30 after some secured lenders rejected an offer from the U.S. government that would have paid $2.25 billion on the $6.9 billion they are owed.

The filing came after the government refused to fund Chrysler’s effort to reorganize as a stand alone company. Chrysler’s U.S. sales plummeted 30 percent in 2008, draining the company of cash, and sending it to the edge of collapse before the government gave it the emergency loan in early January.

The offer was supported by most of Chrysler’s secured lenders, who are represented by JPMorgan Chase & Co.

Chrysler, in its April filings, listed assets of $39.3 billion and liabilities of $55.2 billion, making it the fifth- largest bankruptcy in U.S. history, according to data compiled by Bloomberg.

The case is In Re Chrysler LLC, 09-50002, U.S. Bankruptcy Court for the Southern District of New York (Manhattan).

To contact the reporter on this story: Christopher Scinta in U.S. Bankruptcy Court in New York at cscinta@bloomberg.net.

Last Updated: June 1, 2009 01:14 EDT

[Rìghel75]

Che, come al solito, sarebbero almeno da riportare in italiano con una righina di riassunto, perchè questo è un forum in lingua Italiana.

a quanto pare, qualcuno qui è recidivo nell'ostinarsi a riportare le notizie solo in lingua originale!