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Ontario Government Cancels $445 Million Loan to Chrysler.

The Ontario government erased a $445-million debt to Chrysler, saying it had no legal recourse to recover the money.

This $445 million was part of a loan made by the governments of Canada and Ontario in 2009 to replenish the coffers of the troubled society at the time.

Chrysler filed a Chapter 11 bankruptcy filing in the United States as a result of the global economic crisis.


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