Chrysler Assets Divided
A day before GM’s own bankruptcy filing, a US bankruptcy judge (specifically, Judge Arthur Gonzalez) approved the sale of Chrysler’s assets to a core group of interested and invested parties after the first of Big Three declared bankruptcy weeks ago.
According to a press release, Chrysler’s remaining assets will be divided up among the UAW VERB Health Trust, the US and Canadian Governments, and, pleasingly enough... Fiat. The union is slated to received 68% of the remaining assets, with 20% going to Fiat and the remainder to the aforementioned governments. Overruling any objections, the Judge stated that such a quick division of assets would be the best way to retain value, and thus would best suit public interest, given the recent government loans extended to the Chrysler group.
