We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Chrysler Wins Interim OK To Access $1.8B

Law360 (May 5, 2009, 12:00 AM EDT) -- Chrysler LLC has received interim approval to access $400 million in cash collateral and $1.4 billion of the $4.1 billion in post-petition financing that the U.S. government promised the troubled automaker as it navigates Chapter 11 proceedings that have already drawn objections from irate secured lenders.

Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York signed off Monday on two interim orders approving Chrysler's debtor-in-possession financing and use of cash collateral.

The final hearing on the cash collateral and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.