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Chrysler automobile company files for Chapter 11 bankruptcy

Chrysler Chapter 11 reorganization was the petition for bankruptcy on April 30, 2009 of Chrysler car company and 24 of its affiliated subsidiaries with the federal bankruptcy court in New York.

Chrysler Chapter 11 reorganization was the petition for bankruptcy on April 30, 2009 of Chrysler car company and 24 of its affiliated subsidiaries with the federal bankruptcy court in New York. The court filing occurred upon failure of the company to come to an agreement with its creditors for an outside-of-bankruptcy restructuring plan, by the April 30 deadline mandated by the federal government.

Chrysler was impacted by the automotive industry crisis of 2008–2010 which had contributed the Chapter 11 reorganisation. At the time, Chrysler was controlled by the private investment company, Cerberus Capital Management, which, along with other investors, purchased a majority stake in 2007.

Historical Significance

Chrysler Chapter 11 reorganization was the petition for bankruptcy on April 30, 2009 of Chrysler car company and 24 of its affiliated subsidiaries with the federal bankruptcy court in New York.

Events Before

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    A New Hampshire law legalizing civil unions for same-sex couples comes into effect

  2. Australian pop diva Natalie Imbruglia (32) and "Silverchair" frontman Daniel Johns (28) announce their divorce stating "

    Australian pop diva Natalie Imbruglia (32) and "Silverchair" frontman Daniel Johns (28) announce their divorce stating "we have simply grown apart through not being able to spend enough time together"

  3. "Breaking Bad," created by Vince Gilligan and starring Bryan Cranston and Aaron Paul, premieres on AMC

    Breaking Bad is an American neo-Western crime drama television series created and produced by Vince Gilligan for AMC.

  4. Fears of a possible US recession cause a Black Monday for global stock markets, European stocks suffer their worst decli

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  5. Toshiba announces its formal recall of its HD DVD video format, ending the format war with Sony's Blu-ray Disc

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Events After

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    New FINA rules re competition swimsuits come into effect; all body-length swimsuits banned; men's suits to maximally cover from the waist to knee, and women's from shoulder to knee; fabric must be a "textile" or woven material

  2. Earthquake devastates Haiti, killing an estimated 100,000 to 160,000 people and destroying the majority of the capital P

    Earthquake devastates Haiti, killing an estimated 100,000 to 160,000 people and destroying the majority of the capital Port-au-Prince

  3. "Easy Rider" director and actor Dennis Hopper (73) divorces his fifth wife Victoria Duffy due to irreconcilable differen

    "Easy Rider" director and actor Dennis Hopper (73) divorces his fifth wife Victoria Duffy due to irreconcilable differences and out-of-control spending

  4. Infanta Elena, Duchess of Lugo (46) divorces Lord of Tejada, Jaime de Marichalar (46) after 15 years of marriage

    Infanta Elena, Duchess of Lugo (46) divorces Lord of Tejada, Jaime de Marichalar (46) after 15 years of marriage

  5. Alexandre Bilodeau wins the gold medal in the freestyle skiing men's moguls event, becoming the first Canadian to win go

    Alexandre Bilodeau wins the gold medal in the freestyle skiing men's moguls event, becoming the first Canadian to win gold during an Olympic Games hosted in Canada

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Frequently Asked Questions

What happened on April 30, 2009?
Chrysler Chapter 11 reorganization was the petition for bankruptcy on April 30, 2009 of Chrysler car company and 24 of its affiliated subsidiaries with the federal bankruptcy court in New York. The court filing occurred upon failure of the company to come to an agreement with its creditors for an outside-of-bankruptcy restructuring plan, by the April 30 deadline mandated by the federal government. Chrysler was impacted by the automotive industry crisis of 2008–2010 which had contributed the Chapter 11 reorganisation.
Why is Chrysler automobile company files for Chapter 11 bankruptcy significant?
Chrysler Chapter 11 reorganization was the petition for bankruptcy on April 30, 2009 of Chrysler car company and 24 of its affiliated subsidiaries with the federal bankruptcy court in New York.

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April 30 in HistoryYear 2009