Chrysler Chapter 11 reorganization

Chrysler LLC and 24 of its affiliated subsidiaries filed a consolidated petition for bankruptcy on April 30, 2009, with the federal bankruptcy court in New York. The court filing occurred upon failure of the company to come to an agreement with its creditors for an outside-of-bankruptcy restructuring plan, by the April 30 deadline mandated by the federal government.

See also: History of Chrysler, Automotive industry crisis of 2008–2010, Chrysler, and Cerberus Capital Management

At the time, Chrysler was controlled by the private investment company, Cerberus Capital Management, which, along with other investors, purchased a majority stake in 2007.

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