Chrysler Denies Rumors Of Bankruptcy Plans

Law360, New York (June 27, 2008, 12:00 AM EDT) -- Moving to quell rampant speculation over the U.S. automaker's finances, Chrysler LLC issued a strongly worded statement on Thursday denying market rumors that the company was planning to file for bankruptcy protection.

Chrysler said a Chapter 11 filing was not a measure the company was considering, and the rumors were in no way reflective of the true facts of the automaker's financial situation.

Ron Kolka, Chrysler LLC executive vice president and chief financial officer, said in a statement that the company has a stronger-than-planned cash position....
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