Fisker Automotive Suitor To Appeal $25M Credit-Bid Cap

Law360, Wilmington (January 14, 2014, 9:19 PM EST) -- Hybrid Tech Holdings LLC, one bidder for bankrupt Fisker Automotive Holdings Inc., signaled its intention Tuesday to appeal a Delaware bankruptcy court ruling that capped its credit bid at $25 million, arguing that the decision disregards and “undermines the integrity” of the government’s distressed loan auction process.

In its motion for leave, Hybrid — which acquired electric carmaker Fisker’s secured debt via a U.S. Department of Energy auction — contends that U.S. Bankruptcy Judge Kevin Gross' decision will generate ample uncertainty among the potential bidders for...
To view the full article, register now.