Fisker Bankruptcy Estate Can't Claw Back $33M From BMW

Law360 (August 27, 2019, 5:39 PM EDT) -- Bankrupt electric car venture Fisker Automotive has lost its bid to claw back $33 million paid to German automaker BMW in a failed engine-manufacturing deal, with a Delaware bankruptcy judge saying the contract entitles BMW to keep the money.

Noting while "at first glance" it appears BMW AG took advantage of Fisker Automotive Holdings Inc. by keeping a payment for engines it never delivered, U.S. Bankruptcy Judge Kevin Gross said in an opinion filed Monday that BMW had acted within the bounds of the supply contract and could keep the payment.

"The trustee cannot raise an unjust enrichment claim because a...

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