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Report: US Prepares for Chrysler Bankruptcy

HeadlineApr 24, 2009

The New York Times is reporting the Treasury Department is finalizing plans for the troubled auto giant Chrysler to file for Chapter Eleven bankruptcy as early as next week. The Treasury has reportedly reached a deal with the United Auto Workers that would protect pensions and retiree health benefits. Chrysler is facing a government deadline next week to restructure some $6.9 billion in company debt.

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