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Chrysler Files For Bankruptcy

Chrysler wasted no time in filing for Chapter 11 bankruptcy protection a mere two hours after President Obama's announcement of the move.

The papers were filed with the U.S. Bankruptcy Court, Southern District of New York in Manhattan.

For "total liabilities," the company checked the "more than $1 billion" box.

Here is a list of Chrysler's 10 largest unsecured creditors, and how much they are owed. Note that the company's second-largest creditor is an advertising agency:

1. Ohio Module Manufacturing (parts maker): $70.3 million.
2. BBDO Detroit (advertising): $58.1 million.
3. Johnson Controls (parts maker): $50.3 million.
4. Continental Automotive (parts maker, tires and brakes): $46.9 million.
5. Cummins Engine Co. (engines): $43.9 million.
6. Germersheim Spare Parts (German parts maker): $36.2 million.
7. Comau Inc. (robotics): $32.1 million.
8. Visteon (parts maker, electronics): $25.6 million.
9. New Process (gear maker): $19.6 million.
10. Denso International (parts maker, powertrains): $18.7 million.

-- Frank Ahrens
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By Frank Ahrens  |  April 30, 2009; 2:18 PM ET
Categories:  The Ticker  | Tags: Chrysler, bankruptcy  
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Earth to the UAW: Make further concessions or stand in line with every other unsecured creditor while the secured creditors receive 100 cents on the dollar in liquidation. The gravy train of fat wage and benefit packages for non-college-educated workers is over.

Posted by: RambleOn | April 30, 2009 2:34 PM | Report abuse

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