Fisker Drives Into Ch. 11, Plans Private Sale

Law360, Wilmington (November 25, 2013, 3:17 PM EST) -- Fisker Automotive Holdings Inc. filed for Chapter 11 bankruptcy late Friday in Delaware with plans to turn around a private sale to a unit of Hybrid Technology LLC, which the same day purchased the electric-car maker's defaulted multimillion-dollar loan arranged by the U.S. Department of Energy.

The company and its operating affiliate, which have been plagued with expensive setbacks over the past 18 months, listed between $500 million and $1 billion in liabilities, including more than $200 million in secured debt, much of it originally coming...
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