Big Three, Reorganization | featured news

U.A.W. and Ford Reach Tentative Deal on Concessions

If union members accept the deal, Ford will gain some of the benefits that General Motors and Chrysler needed bankruptcy reorganization to achieve.

 

Bondholders accept GM equity offer, setting stage for bankruptcy

Bondholders accept GM equity offer, setting stage for bankruptcy

A majority of bondholders agree to swap their debt for a stake in a reorganized GM, which is expected to file for Chapter 11 on Monday.

 

Bondholder Group Reaches Deal for Up to 25% G.M. Stake

Bondholder Group Reaches Deal for Up to 25% G.M. Stake

G.M. said a key group of bondholders agreed not to oppose the reorganization plan in exchange for a stake of 10% in the new G.M., with warrants to buy an additional 15%.

 

Treasury Is Said to Increase Its Offer to Chrysler Lenders

Treasury Is Said to Increase Its Offer to Chrysler Lenders

Under the terms of the new plan, Chrysler’s lenders would receive about 22 cents on the dollar, plus a 5 percent equity stake in the reorganized company, a person with knowledge of the matter said.

 

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