Former Chrysler posts $83 million September net loss, $1 million sales

By Caroline Salls

Pittsburgh, Oct. 30 - Old Carco LLC, formerly Chrysler LLC, reported an $83 million net loss for September on $1 million in revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The company had $213 million in cash and cash equivalents at Sept. 30.

As previously reported, the U.S. Department of the Treasury delivered a notice of default to the company on its debtor-in-possession facility.

Old Carco said in the filing that it is negotiating with the Treasury to address the default notice.

As of Sept. 30, the company said there was $3.34 billion of principal and $113 million of interest outstanding on the DIP loan. No further borrowings are allowed.

Old Carco, an Auburn Hills, Mich.-based automotive company, filed for bankruptcy on April 30, 2009. Its Chapter 11 case number is 09-50002.

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