Chapter 11 Bankruptcy, Bankruptcy | featured news

Judge's approval would set up one of the biggest, fastest bankruptcy proceedings of its kind.

The government will likely hold a large share of G.M. after it emerges from bankruptcy, and the union will hold 17.5 percent through its health fund.

Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.

After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration's bid to reshape a fallen icon of American industry.

General Motors Corp is expected to slash up to 1,200 dealers as it struggles to dramatically pare down its operations and eliminate billions of dollars of costs ahead of an anticipated bankruptcy filing by the end of this month.

The carmaker, which filed for bankruptcy protection two weeks ago, sent letters to 789 of its 3,200 American dealers revoking their franchises.

Things were already tough in Kokomo, Indiana.

The fate of Chrysler shifted from Washington to a Manhattan courtroom on Friday, as lawyers for the automaker sought a settlement with creditors.

With a bankruptcy filing by Chrysler appearing all but certain, President Obama will address the fate of the automaker at noon.

Under bankruptcy plan government is preparing, Fiat management would take control, sources say.