Fisker heads toward liquidation as creditors fight over assets

NEW YORK - Electric vehicle startup Fisker is headed towards a liquidation, attorneys said in U.S. bankruptcy court on Friday, as two creditor factions previewed a battle over which group will be paid first.

Fisker owes over $850 million to two groups of bondholders, and attorneys for the larger group accused a minority faction led by Heights Capital Management of seizing control of Fisker's debt in November through a "suspect" transaction with Fisker. Lees said that Fisker should have filed for bankruptcy in November. His group intends to challenge the November agreement that put Heights at the front of the line for repayment in Fisker's bankruptcy, Lees said.Heights' attorney Scott Greissman said Lees' claim was "outrageous" and that Heights tried to help Fisker survive.Greissman said the expected sale of Fisker's fleet would pay only a "fraction" of Heights' $185 million in debt.

Fisker's fate was sealed in March, when it failed to reach a partnership with a large vehicle manufacturer – which Reuters has reported to be Nissan. Before that failed, Fisker paused production and laid off staff to conserve cash, Resnick said. There are 5 reasons any dip in Nvidia stock will be short-lived - and investors should use a decline as a buying opportunityNvidia trades for 20 times next year’s expected revenue. Historically, that’s been a worrisome level for future stock returns.For investors seeking the best stocks to buy for an opportunity to generate life-changing wealth, here are three options to consider. The post The Best Stocks to Invest $2,000 in Right Now appeared first on The Motley Fool Canada.NEW YORK — U.S.

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