Bankrupt Battery Maker Sheds $125M In Claims

Law360, Wilmington (April 17, 2013, 9:36 PM EDT) -- A Delaware bankruptcy judge on Wednesday signed off on a deal between former battery maker A123 Systems Inc. and Fisker Automotive Inc. that reduces the electric car company's claims against its former supplier by nearly $125 million.

Worked out with the help of the official committee of unsecured creditors, the stipulated agreement exchanges Fisker's two contested claims totaling about $139.9 million for an allowed unsecured claim of $15 million.

U.S. Bankruptcy Judge Kevin J. Carey approved the settlement, which was met with no objections, at an...
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