Hertz agrees to pay $650M to halt lender fight over rental fleet

Hertz car rental counter — (BLOOMBERG/Bloomberg)

By:

STEVEN CHURCH

By:

Bloomberg

July 21, 2020 03:48 PM

WILMINGTON, Del. -- Hertz Global Holdings Inc. agreed to pay lenders who indirectly control the company’s fleet of rental cars $650 million as part of a deal to suspend a bankruptcy court fight over the vehicles, according to court documents.

Featured Stories

GM, Honda lead February EV gain with fresh U.S. models as Tesla, Rivian slip

EVs help Cadillac shed its old-fashioned image

Trade war turns Nissan’s liability — underutilized U.S. factories — into asset

Outgoing Lincoln chief: Luxury brand’s future focused on wellness

Latest News

Daily 5 report for April 17: Is Cadillac ready to break through with younger, affluent buyers? It’s been a long time

10 supplier-created innovations that helped build the auto industry

Ex-Stellantis CEO Carlos Tavares turns attention to airline, wine making businesses

GM, Honda lead February EV gain with fresh U.S. models as Tesla, Rivian slip

Staying current is easy with newsletters delivered straight to your inbox.

See More in Used Cars

CarMax says Q4 net income surged 79% but stock slips on missed expectations

Lithia pursuing stronger used-vehicle sales volume in 2025

Carvana is testing new-vehicle sales in Arizona. Here are 3 things to know.

Daily 5 report for Feb. 26: Used-car prices surge after the L.A. wildfires; GM dividend boost yields yawns on Wall Street

Staying current is easy with newsletters delivered straight to your inbox.