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CARMAKERS BANKRUPTCY * Europe
* Italy - De Tomaso files for bankruptcy, again
* USA - City Of Detroit files for bankruptcy
Detroit,MICH,USA -Motor Authority, by Viknesh Vijayenthiran -Jul 18, 2013: -- Detroit, once America’s fourth biggest city and still the heart of the country’s auto industry, filed for Chapter 9 bankruptcy protection in a federal court late on Thursday. With a current population of approximately 700,000, it means Detroit is now the biggest municipal to ever file for bankruptcy protection in the U.S.... The approval came from Michigan Governor, Richard Snyder, based on a recommendation from the city’s emergency manager Kevyn Orr. The city had failed to negotiate a reduction on debts totaling $18.5 billion, owed to creditors and unions, some of which are pension boards and insurers...
* Michigan - NAIAS boss: Detroit bankruptcy won't affect auto show
Detroit,MICH,USA -The Detroit News, by Michael Martinez -July 19, 2013: -- Detroit Metro Convention and Visitors Bureau President and CEO, Larry Alexander, said Friday he’s received quite a few calls from concerned conventioneers over the city’s bankruptcy filing. The North American International Auto Show is not one of them... The city’s signature car show, set for Jan. 13-26, will go on despite Detroit’s Chapter 9 bankruptcy filing... As for the NAIAS, quite interestingly, there is no impact. Since Cobo Center became independent of the city and is managed and operated by a regional authority, no funding from the city is needed for Cobo...
Labels: bankruptcy, carmakers news worldwide
posted by Unknown @ 7:06 AM
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