Fisker Questions A123 Ch. 11 Plan, Citing $139M Claim

Law360, Wilmington (March 11, 2013, 7:11 PM EDT) -- Fisker Automotive Inc. on Monday demanded more information about bankrupt A123 Systems Inc.'s liquidation plan, which the electric car company and former top A123 customer said does not account properly for its $139 million claim against the defunct battery maker.

A123’s disclosure statement explaining its Chapter 11 plan does not contain adequate information for a creditor to make an informed decision when voting on the plan, Fisker said in an objection filed in Delaware bankruptcy court.

Fisker points out that A123 estimates unsecured creditors will receive...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.