Fisker Sale Hearing Delayed As New Suitor Emerges

Law360, Wilmington (January 2, 2014, 8:04 PM EST) -- A Delaware bankruptcy judge on Thursday agreed to delay a hearing on the proposed sale of electric car maker Fisker Automotive Holdings Inc. so parties could evaluate an eleventh hour, $25.7 million offer from Chinese auto giant Wanxiang Group Corp.

Fisker's planned private sale to Hybrid Tech Holdings LLC and the debtor's corresponding Chapter 11 liquidation plan were slated to be heard Jan. 3, but the official committee of unsecured creditors presented a competing offer Dec. 30 that would establish Wanxiang as a stalking horse bidder...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.