Haynes and Boone's Newsroom
FAQ for Car Dealerships: What if the Big 3 Go Into Bankruptcy
12/17/2008
Robin E. Phelan
The three major automobile manufacturers in the United States - General Motors, Ford and Chrysler - have indicated that without significant financial assistance from the government a filing for organization under Chapter 11 of the United States Bankruptcy Code is likely. Such a filing would have a significant impact on car dealers. This document answers the questions dealerships nationwide would have to confront.