Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Old Carco LLC > News item |
Former Chrysler gets OK to sell Michigan plant for $20 million
By Lisa Kerner
Charlotte, N.C., March 11 - Old Carco LLC, formerly Chrysler LLC, was granted approval to sell its Sterling Heights, Mich., assembly plant to New Chrysler for $20 million, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.
The property is pledged as collateral to secure the company's first-lien credit agreement.
Old Carco, an Auburn Hills, Mich.-based automotive company, filed for bankruptcy on April 30, 2009. Its Chapter 11 case number is 09-50002.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.