Auburn Hills, Michigan – The U.S. Bankruptcy Court has given Chrysler interim approval for US$4.1 billion of debtor-in-possesion financing, funded by the U.S. Treasury and Export Development Canada, and the use of $400 million of cash collateral to meet its working capital and general business needs going forward.

Approval of the financing provides the company with resources to continue “normal course” business operations, pending approval of a sales transaction with Fiat.

Chrysler’s Chapter 11 case was filed on April 30, 2009 in the Southern District of New York.

 

 

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