“The Treasury Department is directing Chrysler to prepare a Chapter 11 bankruptcy filing as soon as next week, people with direct knowledge of the talks said Thursday…. Treasury now has an agreement in principle with the U.A.W., whose members’ pensions and retiree health care benefits would be protected in the event of a bankruptcy filing….” (New York Times, Friday)
Why is Treasury a party to this?
FEE Timely Classic
“Insolvency and Bankruptcy Law” by Dennis Bechara
