Fisker Faces Liquidation as Creditors Battle Over Assets

Electric vehicle startup Fisker heads towards Chapter 7 liquidation amid disputes between creditor factions over repayment priorities.

Fisker filed for Chapter 11 bankruptcy after failing to secure additional financing.
The company plans to sell its remaining 4,300 vehicles to a leasing company.
Creditors are contesting an agreement that gave Heights Capital Management priority over Fisker's assets.
Fisker had been experiencing financial distress since August 2023, leading to production halts and layoffs.
The bankruptcy process may convert to Chapter 7, leaving unsecured creditors with minimal repayment.