Subprime Loans Back on the Table for Auto Lenders
27 May 2011, 12:29 UTC · By: Daniel Patrascu / Seen at the time of the economic crisis of 2009 as one of the major problems of the economy (and at the same time one of the main causes of the recession), subprime loans have slowly rebounded, feed...
Ford Gets Credit Extension
25 Nov 2009, 14:37 UTC · By: Daniel Patrascu / The single big American carmaker to have survived 2009 without having to file for protection, Ford Motor, announced it managed to reach an agreement with its lenders to amend and extend the revolvin...
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 ...
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...
GM Admits Defeat from Lenders
28 May 2009, 07:00 UTC · By: Daniel Patrascu / General Motors has officially confirmed that it did not manage to swap the $27 billion debt for shares in the new company. The confirmation came as a result of the expiration of the exchange offer, ...
GM Reaches UAW Agreement, Lenders Await
22 May 2009, 12:25 UTC · By: Daniel Patrascu / One minor step for GM, yet in the right direction. The American manufacturer now operating with next week's sword over head has come to an agreement with the UAW, eliminating one of the obstacl...
Court Approves Chrysler Bidding Procedures
6 May 2009, 06:56 UTC · By: Daniel Patrascu / Despite the opposition of some of Chrysler's lenders, the Manhattan bankruptcy court approved the company's bidding procedures. This will allow the American manufacturer to step up the sal...
Chrysler Gets Loan Approval, Lenders Get Death Threats
5 May 2009, 07:13 UTC · By: Daniel Patrascu / Chrysler has made an important step under bankruptcy protection as it received the court's approval to access a $4.5 billion loan to help it ease up the pressure. The good news followed yesterd...
GM Exchange Offers Get Approval in Europe
29 Apr 2009, 08:45 UTC · By: Daniel Patrascu / The public exchange offers made by General Motors, which have stirred numerous complaints from its bondholders have been approved in Europe, as the United Kingdom Listing Authority has given the gre...
Chrysler Swaps Debt for Cash
29 Apr 2009, 08:09 UTC · By: Daniel Patrascu / After receiving yesterday a much needed brake from one of the most unlikely sources (we are talking here about Daimler's exit from the American manufacturer), Chrysler made yet another importan...