Creditors queue up with claims against bankrupt Fisker

Some 618 parties have filed claims against Fisker Automotive, which declared bankruptcy in November. The outstanding claims total $985.4 million, including about $594 million in unsecured claims, and $383 million in secured claims, according to the bankruptcy court.

Wanxiang America has been approved by the court to purchase Fisker’s assets, including a former GM plant near Newport, Delaware, for $149.2 million. That’s the purse from which creditors will be seeking repayment.

The largest claim seems to be from a group named AEI, which says it is owed about $223 million. Hybrid Tech Holdings, which purchased Fisker’s underperforming federal loan for $25 million, is seeking to recover the full $168 million face value of the loan.

Government entities making claims include the Delaware Economic Development Authority, which gave Fisker $20 million in economic incentives, and New Castle County, which wants $1.1 million for unpaid taxes.

Various suppliers and business partners have joined the line, including Valmet Automotive, which built Karmas at its factory in Finland ($8.5 million), General Motors ($6 million), several Fisker dealerships, and a long list of individuals, banks and parts makers.

A group of former Fisker employees who say they were wrongfully terminated are seeking about $6 million.

 

Source: Delaware Today