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Court Approves Fisker Liquidation
A bankruptcy court has approved a plan to liquidate Fisker Automotive Holdings Inc. after the maker of Karma luxury plug-in hybrids sold its assets in February for $149 million to China's Wanxiang Group Corp.
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A bankruptcy court has approved a plan to liquidate Fisker Automotive Holdings Inc. after the maker of Karma luxury plug-in hybrids sold its assets in February for $149 million to China's Wanxiang Group Corp.
Wanxiang's last-minute offer was about six times that of Hybrid Tech Holdings LLC, a group led by Hong Kong tycoon Richard Li. Hybrid had gained control of the defunct carmaker before its bankruptcy.
Wanxiang indicated earlier this year it intends to relaunch a revised version of the Karma in mid-2015 through Finland's Valmet Automotive, the car's original assembler.
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