According to the Wall Street Journal, Chrysler LLC has been talking to Jones Day, a law firm which is trained in representing companies which are going to be filling for Chapter 11 bankruptcy. It seems that Chrysler officials have hired the lawyers a few weeks ago in order to prepare for an imminent bankruptcy process. That’s of course if the government won’t supply the much needed $7 billion by the end of the year.
The designated lawyer seems to be Corrine Ball. She has worked on the Dana Corp bankruptcy and she worked for GM when it purchased Daewoo. What will happen next? Will the government help or will we see Chrysler go through the bankruptcy?
Tags: Bankruptcy, Chrysler, Corrine Ball
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