US said to lean toward use of bankruptcy for autos

Newswire

NEW YORK (Reuters) - U.S. officials are leaning toward some use of bankruptcy in their plan to fix the U.S. auto industry, a person familiar with the matter said on Monday. While most would prefer a restructuring of General Motors Corp and Chrysler outside bankruptcy, bankruptcy may be necessary to reach agreements with key stakeholders, said the source, who declined to be named because the talks are not public. Under a potential bankruptcy filing, "good" parts of GM and Chrysler could ...

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