Funds Won't Impede Chrysler Reorganization

The restructuring of Chrysler LLC will go forward even though a handful of hedge funds have refused to accept the Treasury Department's offer to cut the auto maker's debt, an administration official said on Thursday.

"Their failure to act in either their own economic interest or the national interest does not diminish the accomplishments" by Chrysler, its planned alliance partner Fiat SpA and other stakeholders in the company, the official said, "nor will it impede the new opportunity Chrysler now has to restructure and emerge stronger going forward."

Read Full Article from Wall Street Journal

- Posted: 2009-04-30 08:30:28

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