The Intersection Of National Security And Bankruptcy

Law360, New York (April 8, 2013, 10:58 AM EDT) -- Late last year, sales of assets from the bankrupt company A123 Systems Inc. were finalized to an American subsidiary of the largest Chinese automotive parts manufacturer, Wanxiang Group Corporation, for more than $250 million. A123 Systems, a manufacturer of lithium-ion batteries and energy storage systems for hybrid and electric vehicles, had once been regarded as a promising enterprise. It was a grant recipient under President Barack Obama’s stimulus program for electric car development.

No more. “The president borrowed money from China to pay for his $800...
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