Bankruptcy

Bob Rossiter, who helped build and rebuild seating giant Lear, dies at 69

11:28 am U.S. ET | Feb. 9, 2016

Former Lear CEO Bob Rossiter, who worked with the company for 40 years and led it through bankruptcy in 2009, died Sunday after a yearlong battle with cancer....
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Former Opel CEO Demant retires after VW role

Feb. 2, 2016 06:01 CET

Volkswagen Group's international projects chief, Hans Demant, has retired, ending a long career that was mainly spent at General Motors' European operations where he was known as "Mr. Opel."...
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Supply chain veteran Doug DelGrosso named CEO of Chassix

9:08 am U.S. ET | Dec. 16, 2015

Longtime supply chain executive Douglas DelGrosso has been named CEO of Chassix, a precision chassis casting and machining company that emerged from Chapter 11 bankruptcy earlier this year....
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2 Fiat Chrysler dealerships, closed after years of bankruptcy litigation, are reopening

10:20 am U.S. ET | Dec. 2, 2015

Two suburban Detroit dealerships have been quietly re-entering the Fiat Chrysler Automobiles US network after more than six years away, now that the U.S. Supreme Court has ended a long legal battle over their reinstatement....
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U.S. senators seek to ensure Takata recall is completed

6:42 pm U.S. ET | Nov. 9, 2015

Two influential U.S. senators, worried about Takata's ability to complete a recall of potentially deadly airbag inflators, sought regulatory guidance on how to hold the Japanese supplier accountable if its U.S. subsidiary goes bankrupt....
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GM could face punitive damage claims in switch litigation

12:41 pm U.S. ET | Nov. 9, 2015

A U.S. judge said GM may be liable for limited punitive damages in lawsuits it faces over an ignition switch problem that prompted the recall of millions of vehicles last year....
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GM's Janesville, Wis., plant slated to close for good, UAW memo shows

3:00 pm U.S. ET | Oct. 29, 2015

GM's mothballed assembly plant in Janesville, Wis., is slated to be closed permanently, the UAW disclosed in documents related to its tentative labor deal with the automaker. Output at the 96-year-old plant was shuttered in December 2008, six months ahead of GM's bankruptcy....
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U.S. Supreme Court won't hear dispute over Chrysler dealerships

8:55 am U.S. ET | Oct. 6, 2015

The U.S. Supreme Court on Monday refused to weigh in on a dispute over the constitutionality of a law that allowed Chrysler dealerships shut down during the company's 2009 bankruptcy to be restored through arbitration, The Detroit News reported....
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Former Saab CEO charged with giving false testimony

Sept. 2, 2015 16:44 CET

Former Saab Automobile CEO Jan Ake Jonsson was charged with giving false testimony when the aftermath of the Swedish automaker's bankruptcy played out in court....
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Chassix gets new board, $300M in financing

3:14 pm U.S. ET | July 30, 2015

Chassix Holdings, following its successful emergence from Chapter 11 bankruptcy proceedings, has secured $300 million of exit financing and named a new board of directors....
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Chassix finds support for Chapter 11 exit plan

3:29 pm U.S. ET | July 6, 2015

Debt-laden auto supplier Chassix Holdings Inc. entered its bankruptcy court confirmation hearing late last week with nearly unanimous creditor support for its Chapter 11 exit plan....
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Saab owner to build EV plant in China

July 3, 2015 11:06 CET

China's National Electric Vehicle Sweden, which owns the assets of bankrupt Swedish automaker Saab, broke ground on a plant in China to produce electric vehicles. The company did not release any details about the EVs and it's not clear whether they will be marketed as Saabs....
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GM ignition-switch suits put on ice by U.S. judge, for now

6:22 am U.S. ET | May 28, 2015

A federal bankruptcy judge on Wednesday put on hold dozens of lawsuits accusing General Motors of concealing an ignition-switch defect while the plaintiffs in those cases appeal an earlier ruling that found their cases were barred....
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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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