Banks 'resisting bid to cut Chrysler debt'

Chrysler’s lenders are resisting efforts to convert most of the car maker’s debt to equity, it was reported today.

Banks 'resisting bid to cut Chrysler debt'
Sat, 04 Apr, 2009 - 11:29

Chrysler’s lenders are resisting efforts to convert most of the car maker’s debt to equity, it was reported today.

The conversion is vital for Chrysler’s plan to restructure without filing for bankruptcy protection.

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