The portion of Chrysler LLC that remains in bankruptcy had costs of $10.2 billion in June, which is more money than the company was left with to cover the costs of liquidation.

Insufficient funds could explain why Old Carco LLC, which holds Chrysler assets still in bankruptcy, could not repay $3.34 billion in financing from the U.S. and Canadian governments to finish its bankruptcy, and an additional $29 million in interest on that loan.

Failure to make a payment due June 30 resulted in a notice of default being sent from the U.S. Treasury to Old Carco on Aug. 13 and reported Friday in court documents.

The company's June operating report was filed with the New York bankruptcy court Friday. Chrysler LLC filed for bankruptcy April 30, and the choice assets were sold to a new entity, Chrysler Group LLC, which was formed in partnership with Fiat SpA on June 10. Chrysler Group is not responsible for the debts outlined in the document.

Former Chrysler Chief Financial Officer Ron Kolka was put in charge of winding down the assets of Old Carco.

Old Carco and the automaker's unsecured creditors' committee are negotiating with Treasury on loan repayment, the document says. And no further borrowing is permitted.

The financial disclosures show the costs accrued by Old Carco in June include $186 million in restructuring charges, among other things, and that there was an $11.8 billion net loss from the Fiat transaction.

Old Carco continued to pay professional fees in June, including $15 million to financial consultants Capstone Advisory Group LLC; property and real estate taxes; and other costs such as insurance and utilities connected with plants being leased to new Chrysler until their slated closure. Payroll costs were $142 million for June, and taxes on that were $58 million, including $1.8 million to Michigan.

The company is working to sell or end leases on property, plants and equipment.

Old Carco was given $2 billion to cover expenses when the court approved the sale of assets to the Fiat-managed Chrysler that exited bankruptcy. Additionally, the U.S. and Canadian governments approved up to $4.96 billion in financing, of which $3.34 billion was tapped.

Old Carco has a net loss of $11.7 billion to date.

The unaudited financial report filed Friday lists total assets as of June 30 at $2.345 billion, but liabilities of $20.5 billion, leaving little optimism for unsecured creditors hoping to recoup some of their losses.