FACTBOX-Details of Chrysler bankruptcy, restructuring plan

Newswire

(Reuters) - The Obama administration summarized its plan for Chrysler's Chapter 11 bankruptcy and Chrysler's alliance with Fiat SpA as follows: BANKRUPTCY * Chrysler will use Section 363 of the federal bankruptcy code to "clear away the remaining impediments" to its restructuring. * New Chrysler will buy all assets of old Chrysler out of a Chapter 11 bankruptcy case in exchange for a $2 billion payment to secured lenders. * New Chrysler will create an independent trust to provide ...

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