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Wanxiang bids for Fisker – Chicago Tribune

Fisker creditors accuse buyer Hybrid Tech of insider dealing, support $25 million bid from Wanxiang
January 03, 2014|By Julie Wernau, Tribune reporter
It seemed like Fisker Automotive’s sale to Hybrid Tech Holdings was all but wrapped up. In November, the newly formed Hybrid group paid $25 million to win a U.S. Energy Department auction to take over Fisker’s defaulted government loan.

But now Fisker’s unsecured creditors are accusing Hybrid of insider dealing. They are asking a federal bankruptcy court to instead hold an auction for Fisker, which has been operating under Chapter 11 protection, in which an offer of $25 million from Chinese automotive firm Wanxiang would serve as the stalking horse bid.



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