Fisker Bidding Intensifies As Hybrid Tech Ups Offer To $55M

Law360, Wilmington (January 13, 2014, 8:13 PM EST) -- Hybrid Tech Holdings LLC on Monday submitted an improved $55 million offer for bankrupt Fisker Automotive Holdings Inc., revving up competition for the electric car maker as it prepares to embark on a court-ordered auction.

The bid comes on the heels of a Friday decision by U.S. Bankruptcy Judge Kevin Gross to reject Fisker's plans for a private sale to senior secured creditor Hybrid Tech and order a competitive auction, a process championed by the committee of unsecured creditors and Chinese auto giant Wanxiang Group Corp....
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