In November, Suzuki's automotive division in announced that it would be shutting down its operations in the United States. On Thursday, December 20, American Suzuki Motor Corp successfully filed for Chapter 11 bankruptcy protection, in Santa Ana, California, winning permission to close its automotive operations, while re-organizing its motorcycle and boat businesses.
But that's not all that went down in the court as U.S. Bankruptcy Judge Scott Clarkson also approved Suzuki's request to borrow $50 million to import extra cars from Japan. Confused? Well, allow us to explain.Read more »