GM and Chrysler's bankruptcy cases at a glance

A summary of developments in the Chapter 11 bankruptcy cases of General Motors Corp. and Chrysler LLC:

GENERAL MOTORS — DAY 12

WHERE DOES IT STAND?: Friday marked Detroit-based GM's 12th day under court protection.

GM Chief Executive Fritz Henderson was back in Washington on Friday to defend the automaker's decision to close hundreds of dealerships as part of its restructuring. Lawmakers questioned Henderson, along with Chrysler Deputy CEO Jim Press over whether dealership closures save money.

Henderson told House lawmakers that the decision to cut dealerships was "quite painful" but necessary to preserve over 200,000 jobs at GM's remaining dealers. GM is expected to reduce its dealer ranks by 2,500 through the shuttering of dealerships, attrition and the shedding of its Saturn, Hummer, Pontiac and Saab lines.

Meanwhile, GM appeared closer to finalizing a sale of Saab. The Swedish automaker said Friday a deal to find a new owner was "just around the corner" but added that nothing has been finalized and didn't name any potential buyers.

WHAT'S NEXT?: GM's next bankruptcy court hearing will take place on June 18. A hearing on the proposed sale of the bulk of GM's assets to a new company is scheduled for June 30.

CHRYSLER — DAY 44

WHERE DOES IT STAND?: Friday marked Auburn Hills, Mich.-based Chrysler's 44th day under court protection.

Chrysler's Press joined Henderson on Capitol Hill on Friday to defend Chrysler's dealership cuts. Chrysler has cut 789 of its dealerships while under bankruptcy protection.

Unlike GM, Chrysler used Chapter 11 to throw out its franchise agreements with the terminated dealers. The targeted stores lost their Chrysler franchises on Tuesday, though some of the dealerships will continue to sell used cars.

Chrysler is likely nearing the end of its bankruptcy proceedings. On Wednesday, the automaker closed the sale of the bulk of its assets to Italian automaker Fiat Group SpA.

WHAT'S NEXT?: Chrysler assets not sold to Fiat, including eight plants, remain under Chapter 11 protection. Hearings to decide what to do with these so-called bad assets and to settle claims by the company's creditors will continue for the foreseeable future.

Copyright 2009 The Associated Press.