Saab Exists Bankruptcy, Continues Marriage with Koenigsegg
20 Aug 2009, 14:25 UTC · By: Bogdan Popa / Swedish group Saab's bankruptcy protection finally came to an end today as the company decided it would be better not to ask for an extension in court and continue restructuring with the help o...
Chrysler Creditors Sue Daimler
19 Aug 2009, 08:31 UTC · By: Daniel Patrascu / As we reported in the beginning of the month, a group of Chrysler creditors was seeking means to open a lawsuit against German group Daimler, on the grounds that the Germans have stripped Chrysler o...
Lear Submits Reorganization Plan
18 Aug 2009, 10:36 UTC · By: Daniel Patrascu / Bankrupt American supplier Lear filed its reorganization plan in bankruptcy court, taking yet another step into securing its goal of restructuring the $3.6 billion debt, as well as opening the door ...
Visteon to Cut Health Benefit, Give Bonuses to Managers
17 Aug 2009, 09:47 UTC · By: Daniel Patrascu / Bankrupt American supplier Visteon submitted in court on Friday a proposal to cut health-care insurance for about 7,700 retirees and employees. The supplier says the move is necessary in order to sa...
GM to Reestablish Up to 50 Dealerships
17 Aug 2009, 07:52 UTC · By: Daniel Patrascu / Wants me, wants me not... This is the predicament some of the dealerships targeted for closure by American manufacturer GM find themselves in now, as it would appear the carmaker is now looking into...
Cooper-Standard Gets Interim DIP Approval
7 Aug 2009, 10:46 UTC · By: Daniel Patrascu / After it announced at the beginning of the week its filing for bankruptcy protection, American automotive supplier Cooer-Standard Automotive received yesterday, together with its US and Canada subsi...
Chrysler Creditors to Sue Daimler
5 Aug 2009, 08:52 UTC · By: Daniel Patrascu / A group of Chrysler creditors have asked the bankruptcy court approval to sue German manufacturer Daimler, who they accuse stripped the American manufacturer of its most valuable assets in 2007, whe...
Cooper-Standard Automotive Files for Bankruptcy
4 Aug 2009, 10:35 UTC · By: Daniel Patrascu / American automotive supplier Cooper-Standard Automotive announced today that together with its US subsidiaries filed "voluntary petitions for reorganization under Chapter 11 of the U.S. Bankrup...
SsangYong July Sales: 71 Cars
4 Aug 2009, 08:37 UTC · By: Bogdan Popa / Some people said that SsangYong has already reached the lowest possible level when it comes to its current situation, pointing to the hundreds of workers who occupied the paintshop since May 21. Wit...
Opel, RHJ or Bankruptcy
3 Aug 2009, 06:54 UTC · By: Daniel Patrascu / The battle for Opel is far from over and, up until now, the only foreseeable casualty is the German car manufacturer itself. The disagreements between the German government and still Opel's own...
Delphi Sold to GM, Lender Group
31 Jul 2009, 07:04 UTC · By: Daniel Patrascu / The four year long bankruptcy of American supplier Delphi concluded yesterday with the approval for the sale of its assets to General Motors and a group of lenders. In exchange for the sale, the len...
Delphi Sale to Be Decided Today
30 Jul 2009, 09:38 UTC · By: Daniel Patrascu / The almost four-year long bankruptcy process of American part supplier Delphi may end today, as the bankruptcy court is expected to rule whether the sale process is a go or not. The court ruling is ...
RHJ Ends Metaldyne Purchase Agreement
28 Jul 2009, 09:27 UTC · By: Daniel Patrascu / As we announced in mid-june, Belgium holding RHJ International submitted an offer for the acquisition of Metaldyne powertrain and operating assets, as well as stock of its foreign subsidiaries. ...
Delphi Like Lenders' Bid, GM Says Yes
28 Jul 2009, 07:14 UTC · By: Daniel Patrascu / Bankrupt American part supplier Delphi announced yesterday it favors a bid submitted by its lenders over the one of the other bidder, Platinum Equity. Having a change of heart, GM, which up until n...
Chrysler Delays Dealer Payouts
27 Jul 2009, 07:53 UTC · By: Daniel Patrascu / American manufacturer Chrysler announced it will delay payouts to the 789 dealers awaiting termination for an undetermined period of time. According to Chrysler, an email has been sent to the respec...
US Government Still Focused on Car Parts Business
22 Jul 2009, 15:08 UTC · By: Bogdan Popa / As we all know, the United States auto sector is one of the most damaged industries when it comes to the economic chaos, with two giants, General Motors and Chrysler forced to file for bankruptcy. A...
Nardelli Joins Cerberus
22 Jul 2009, 06:50 UTC · By: Daniel Patrascu / As we told you back on April 30, the day when American manufacturer Chrysler filed for bankruptcy, the company's CEO, Robert Nardelli announced his departure as soon as Chrysler emerges from ba...
GM's Take on Delphi-PBCG Agreement
22 Jul 2009, 05:59 UTC · By: Daniel Patrascu / American manufacturer General Motors issued a statement yesterday regarding the agreement between automotive parts supplier Delphi and the Pension Benefit Guaranty Corporation (PBGC). The manufactur...
SsangYong May Lose State Support
21 Jul 2009, 12:52 UTC · By: Daniel Patrascu / While South Korean police are engaged in a standoff with some 800 of its workers, SsangYong's financial problems threaten to worsen. Yesterday, the Seoul Central District Court, which supervise...
Chrysler's New Dealer Network
17 Jul 2009, 10:07 UTC · By: Daniel Patrascu / Chrysler Group has announced yesterday its new line-up of dealerships, as it was taken over from the former Chrysler. The American manufacturer now has a 2,385-strong dealer network, 1,364 of which ...