Corporate Watch
CHRYSLER HOLDING</br></br>'Old Chrysler' Pays Back</br></br>$1.9 Billion of U.S. Loan</br></br>The U.S Treasury Department said Monday it received a $1.9 billion payment from the bankrupt assets of Chrysler Holding to cover a loan given to the company's former main lending arm, Chrysler Financial.</br></br>"This repayment, while less than face value, is significantly more than the Treasury expected to recover on this loan, and is greater than an independent valuation of the loan . . ." the Treasury said in a statement. The Treasury, then under the Bush Administration, originally made a $4 billion loan to the company in January 2009.