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Chrysler Bankruptcy

Bankruptcies and Collapses

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In April 2009 the automaker Chrysler filed for Chapter 11 bankruptcy protection amid the broader financial crisis and a collapse in vehicle sales. With financial backing from the United States government, most of Chrysler's operating assets were sold into a new company that was initially majority owned by the autoworkers' retiree health trust and partly controlled by the Italian automaker Fiat.

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