Now that the Bankruptcy Court has approved the sale of Chrysler’s assets to a consortium of buyers lead by Italian carmaker Fiat, the next major issue is which Dealer Agreements will be assumed and which ones will be rejected. 

General Motors Corporation filed a petition for Chapter 11 bankruptcy protection this morning in the Second District of New York Bankruptcy Court. According to the bankruptcy filing, as of March 31, 2009, General Motors employed approximately 235,000 employees worldwide.  In addition, General Motors had consolidated global recorded assets of approximately $82.3 billion and liabilities of [...]

Bloomberg reports that Magna International Inc., Canada’s largest auto-parts supplier, is in talks with General Motors Corp. about acquiring the Saturn brand as the automaker shrinks operations, people familiar with the discussions said.

Chrysler LLC will eliminate 789 dealers, or 25 percent of its U.S. network, by June 9, according to a memo sent today to retailers in one sales region, obtained by Automotive News.

On April 30, Chrysler, LLC and numerous of its related subsidiary companies filed for Chapter 11 bankruptcy protection in the Southern District of New York Bankruptcy Court. Chrysler will continue to operate as a going concern, while it attempts to quickly confirm a Chapter 11 Plan, of Reorganization.  An Obama administration official predicted the reorganization would [...]