Tuesday, July 29, 2014

Fisker Automotive Bankruptcy Plan Okayed

The Costa Mesa-based company once known as Fisker Automotive--now known as FA Liquidating Corp. and FAH Liquidating Corp.--has received court approval of its Chapter 11 plan. According to the companies, the company received approval from the United States Bankruptcy Court for the District of Delaware on Monday to sell itself to Chinese company Wanxiang Group Corp., for $149.2M. Fisker had filed for bankruptcy protection back in November of 2013. Fisker had raised more than $1.4 billion in the process of developing its electric vehicles.

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