Hearing On Fisker Asset Sale Postponed
WILMINGTON, Del. (AP) -- A hearing on the sale of the remaining assets of failed electric-vehicle maker Fisker Automotive has been postponed.
The hearing on whether to confirm the results of an auction of Fisker's assets originally scheduled for Friday in Wilmington is now set for Tuesday. The auction, which began Wednesday, was still going on Thursday night.
The auction pitted Hybrid Technology, led by Hong Kong billionaire Richard Li, against Chinese auto-parts conglomerate Wanxiang Group Corp.
Going into the auction, Hybrid had offered $30 million in cash and cancellation of $25 million in debt as Fisker's senior secured lender.
Wanxiang had offered $35.7 million in cash and an equity stake for creditors in a reorganized Fisker, which once planned to build cars in Delaware.