The Chrysler and General Motors Bankruptcies


The bankruptcy proceedings of Chrysler and General Motors were filed at the height of the financial crisis that rocked the global economy in the late-2000s. Although both companies originally received federal financial bailouts to try to avert bankruptcy, within months they were forced to file bankruptcy in an unprecedented bankruptcy-bailout process. The bankruptcy proceedings that subsequently transpired were controversial at the time and remain controversial to this day. This chapter in the Research Handbook in Corporate Bankruptcy Law (Forthcoming 2019) reviews the controversial cases and their uncertain legacy for the future of chapter 11 practice and corporate bankruptcy law.