Creditors of China America Cooperative Automotive Inc. (Chamco Auto) and ZX Auto North America have filed bankruptcy in California against the two companies. “From our standpoint, it’s a good development,” says Martin Karo, secretary and general counsel for a group that broke away from Chamco in March. Karo says the move from New Jersey state court to federal court in Santa Ana, CA, offers hope that Chamco’s employees and creditors will receive payment. ZX Auto North America is a ...
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