Bankruptcy

Visteon sued by township over bond payments

4:29 pm U.S. ET | May 12, 2015

Supplier Visteon has been sued by the township where it is based in a dispute over payments on bonds used originally to finance construction of Visteon's headquarters complex....
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GM is shielded from some ignition-switch suits, ruling finds

4:45 pm U.S. ET | April 15, 2015

General Motors will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a federal bankruptcy judge ruled Wednesday....
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JPMorgan Chase loses bid to reclaim security for $1.5 billion GM loan

4:02 pm U.S. ET | April 14, 2015

JPMorgan Chase lost another court bid to reclaim security for a $1.5 billion loan to General Motors' bankrupt predecessor....
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GM shield in doubt as judge mulls ending bar on ignition suits

6:19 am U.S. ET | March 27, 2015

A bankruptcy judge told GM six years ago it didn't have to worry about lawsuits over cars made before its $49.5 billion government bailout. Last month, the same judge said he wasn't so sure anymore....
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Chassix, a supplier to GM and BMW, files for bankruptcy

11:02 am U.S. ET | March 12, 2015

Chassix, a supplier of chassis, brake and powertrain components to GM, BMW, and others, today filed for Chapter 11 bankruptcy reorganization in New York....
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Supplier Chassix buys times with debt holders

3:32 pm U.S. ET | March 5, 2015

Chassix, the auto-parts maker owned by billionaire Tom Gores' Platinum Equity LLC, said its bondholders agreed to refrain for a month from pursuing a default after the company missed an interest payment....
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China's Wanxiang to rebrand Fisker as Elux, report says

9:26 am U.S. ET | Feb. 23, 2015

Chinese auto parts maker Wanxiang Group will push back its planned relaunch of the defunct Fisker Karma hybrid sports car until mid-2016 and rebrand Fisker Automotive as Elux, two sources familiar with the plan told Reuters on Sunday....
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Supplier Chassix misses 2nd bond payment; creditors concerned

8:46 am U.S. ET | Feb. 17, 2015

After missing a payment of more than $17 million to bondholders this month, Chassix has asked the bondholders to organize and retain advisers -- and a creditor's filing asserts that the company is taking steps toward a possible bankruptcy....
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Nexteer eyes brand development with HQ move to suburban Detroit

9:47 am U.S. ET | Feb. 2, 2015

Chinese-owned auto supplier Nexteer Automotive, the former Delphi steering unit, is moving its headquarters to suburban Detroit as it seeks to grow its brand recognition....
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Spyker wins appeal against bankruptcy

Jan. 31, 2015 11:59 CET

Dutch supercar maker Spyker won its appeal against being placed in bankruptcy. Spyker CEO Victor Muller now plans to push ahead with development of the B6 Venator entry-level luxury sports car, and to merge with a U.S.-based electric aircraft manufacturer....
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Paperwork error on GM loan will cost JPMorgan $1.5 billion, U.S. court rules

1:24 pm U.S. ET | Jan. 21, 2015

A 2008 paperwork error in a loan agreement with General Motors, before the automaker went into Chapter 11 bankruptcy, will cost JPMorgan Chase $1.5 billion, a federal appeals court ruled today....
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Four former Chrysler dealers could reopen under U.S. appeals court ruling

2:58 pm U.S. ET | Jan. 20, 2015

One Las Vegas dealership and three former Detroit area dealerships -- Livonia Chrysler Jeep, Fox Hills Chrysler Jeep and Village Chrysler Jeep -- could get a chance to reopen more than five years after a Chrysler Group LLC decision to close them, according to a federal appeals court ruling....
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Former Saab owner Spyker is bankrupt

Dec. 18, 2014 15:38 CET

Spyker -- the Dutch supercar maker that was hurt by its acquisition of Saab from General Motors -- was today declared bankrupt even as founder and CEO Victor Muller vowed to revive the company....
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THE GM RECALL

GM customers demand payment for 'callous cover-up' of defect

7:56 am U.S. ET | Dec. 17, 2014

Owners of General Motors cars with faulty ignition switches turned to the only judge who can help them, saying it's wrong to shield the automaker behind bankruptcy law....
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Spyker files for financial restructuring

Dec. 2, 2014 17:13 CET

Spyker Cars has filed for financial restructuring as the Dutch automaker that was hurt by its acquisition of Saab from General Motors seeks to avoid collapse....
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GM's bankruptcy judge to retire, remain on recall status

3:32 pm U.S. ET | Nov. 17, 2014

The New York bankruptcy judge overseeing part of the fallout from General Motors' problems with faulty ignition switches will retire from the bench, but remain active in so-called recall status for at least a year, his court announced....
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GM asks bankruptcy judge to bar $10 billion ignition claims

6:33 am U.S. ET | Nov. 6, 2014

General Motors asked a judge to knock out lawsuits demanding $10 billion for the lost value of millions of cars recalled this year for ignition-switch fixes and other repairs....
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THE GM RECALL

GM could face extra $2 billion tab if bankruptcy shield crumbles

8:03 am U.S. ET | Nov. 5, 2014

Jesse Salazar III says an ignition switch flaw in his 2008 Chevrolet HHR has depressed its value, and he wants manufacturer GM to make it up to him. GM will argue in court filings later today that it shouldn't owe money to Salazar and hundreds of thousands of people like him....
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Ford to close climate control plant, lay off 257 workers

3:11 pm U.S. ET | Oct. 21, 2014

Ford plans to shed the last line of business in nine-year-old Automotive Component Holdings LLC by December when ACH closes its Sheldon Road climate control plant in suburban Detroit and lays off its last 257 employees....
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THE GM RECALL

GM sued for $10 billion over losses on 27 million recalled cars

1:43 pm U.S. ET | Oct. 15, 2014

General Motors was hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles seeking more than $10 billion in compensation for fallen car prices....
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In GM bankruptcy, an ex-con and hedge funds find common ground

3:00 pm U.S. ET | Oct. 12, 2014

Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he's getting support from an unlikely source: hedge funds....
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Penske testifies Detroit, like GM, will be cleansed by bankruptcy

1:19 pm U.S. ET | Oct. 3, 2014

Detroit can benefit from a trip through bankruptcy, just as GM used court protection to turn itself around, Roger Penske on Friday told the judge weighing whether to approve the city's $7 billion debt-cutting proposal....
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NEVS lays off staff as Saab output remains idled

12:16 pm U.S. ET | Sept. 24, 2014

China's cash-strapped National Electric Vehicle Sweden said it would lay off up to 200 employees at its Saab car plant in Sweden as production is unlikely to resume anytime soon....
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Warren Buffett is bullish on GM, Detroit

3:33 pm U.S. ET | Sept. 18, 2014

Billionaire investor Warren Buffett said today he is bullish on Detroit and General Motors -- and said he's impressed with CEO Mary Barra....
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Saab carmaker NEVS granted creditor protection by court but loses right to use Saab name

Aug. 29, 2014 12:46 CET

National Electric Vehicle Sweden (NEVS), which bought Saab in 2012, won court protection from creditors today. But the automaker suffered a blow when Saab AB, the defense firm, withdrew NEVS' right to use the brand name Saab for its cars....
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