Fisker Suitor's Credit Bid Cap Appeal Gets Thrown Out

Law360, Wilmington (February 10, 2014, 1:48 PM EST) -- A Delaware federal judge on Friday denied an appeal by Hybrid Tech Holdings LLC, suitor of Fisker Automotive Holdings Inc., of a bankruptcy court's decision to cap its credit bid at $25 million, keeping the auction for the shuttered electric carmaker on track for Wednesday.

U.S. District Judge Gregory M. Sleet sided with the official committee of unsecured creditors in the Fisker Chapter 11 that Hybrid had not established the factors required to support an interlocutory appeal.

In order for Hybrid to succeed at its appeal...
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