Suitor For Bankrupt Fisker Ups Buyout Offer By $10M

Law360, Wilmington (January 8, 2014, 7:24 PM EST) -- Chinese auto giant Wanxiang Group Corp. has boosted its offer for Fisker Automotive Holdings Inc. by $10 million, but the bankrupt electric car maker intends to proceed with a planned asset sale this week to debt holder Hybrid Tech Holdings LLC, a Delaware bankruptcy judge heard Wednesday.

The official committee of unsecured creditors, which supports the Wanxiang bid, told the court during a status conference that the Chinese company has sweetened its offer by $10 million in cash and would be prepared to go higher in...
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