SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics for Pros- moderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: KLP who wrote (304874)5/13/2009 4:31:08 PM
From: rich evans  Read Replies (3) of 793954
 
Article is incorrect. Secured creditors do not have absolute priority. DIP financing is ahead of them and gets paid first. US is only entity willing to put up the bucks to get Chrysler going again in Bankruptcy.
Therefore it gets paid back first for its billions of DIP financing and this financing means the secured creditors only get about 30 cents on the dollar if that.

This is not a sham sale to Fiat. Chrysler according to its affadavits in the BR case has been trying to sell the company or find a partner for two years and has approached every major car manufacturer and potential investor or buyer without any takers. Only Fiat said they would come in under certain condtitions. Chryslers assets on liquidation would be worth very little. The trash and cleanup costs would be significant.

These articles are written by people without the facts or business understanding of the true situation.

Rich
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News