U.S. Said to Seek a Chrysler Plan for Bankruptcy
12:56 PM Fri, Apr 24, 2009 | Permalink
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DETROIT -- The Treasury Department is directing Chrysler to prepare a Chapter 11 bankruptcy filing as soon as next week, people with direct knowledge of the talks said Thursday, according to The New York Times. The company faces a deadline of April 30 to come up with a viable business plan supported by its creditors, the United Automobile Workers union, and Fiat, the Italian car company that wants to acquire a stake in Chrysler. 
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