Fisker asks bankruptcy judge to delay A123 asset transfer to Johnson Controls
Fisker said it would also file an emergency motion to challenge "debtor-in-possession loan." Johnson Controls is set to take over A123's automotive assets, and Fisker said it is not trying to stand in the way of an asset sale in theory. It just wants the delay because "various protections" that Johnson Controls has "are unnecessary, excessive, and counterproductive to a successful sales process."
Fisker attorney Gregg Galardi said the bankruptcy process was "crafted" to benefit Johnson Controls and that, "The best interests of the estates, however, are not well served through a hasty and unfair sale process designed to ensure that JCI is the ultimate purchaser." In other words: don't let all this good stuff go cheaply.
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models