Chrysler stays on the sidelines

Article Abstract:

Thai Chrysler Automotive Ltd. is facing a lawsuit for failing to repay a $40-million loan to its bankers without the support of Detroit, MI-based Chrysler Corp., which owns 30% of the joint venture. Chrysler did not guarantee the loans and is not volunteering to come up with the cash to repay the loans, a move that will put its reputation as a borrower on the line. The legal battle between Thai Chrysler and its bankers underscores how the economic crisis in Asia is damaging business alliances forged in more untroubled times.

Comment:

Faces a lawsuit for failing to repay a $40-million loan to its bankers without the support of Detroit, MI-based Chrysler Corp

Legal issues & crime, Motor Vehicles & Parts, Transportation Equipment Manufacturing, Thailand, Thai Chrysler Automotive Ltd., Article

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Leading Shanghai official promotes home mortgages

Article Abstract:

Vice-Mayor Xia Keqiang is urging Shanghai residents to exploit the benefits of home mortgage loans in a move to check oversupply of residential properties in the local market. Mr. Xia further seeks to implement a new law which will grant land use rights to property developers. According to Mr. Xia, residents are wary to use home mortgage loans due to inadequate income and credit worthiness concerns.

Housing Programs, Administration of Housing Programs, Home Mortgages, Usage, Laws, regulations and rules, Housing, Economic policy, Housing policy, Mortgages, Shanghai, China, Home improvement loans, Xia, Keqiang

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