Sees asset sale as “most viable path forward” for the electric vehicle manufacturer. Fisker Group Inc., the operating subsidiary of Fisker Inc., announced that it filed for Chapter 11 protection in the District of Delaware on June 17. It is in advanced discussions with financial stakeholders regarding debtor-in-possession financing and the sale of its assets. […]
Lordstown Motors Files For Bankruptcy, Sues Partner Foxconn
Files lawsuit against Foxconn that alleges fraud and repeated contractual breaches. Electric vehicle (EV) startup Lordstown Motors Corp. (NASDAQ:RIDE), and it was filing for chapter 11 bankruptcy protection to begin a strategic restructuring process and a lawsuit again its strategic partner the iPhone manufacturer Foxconn. The company is seeking a buyer for its Endurance all-electric […]
Hertz Global Holdings Files for Chapter 11 Reorganization
Rental provider has $1 Billion in cash on hand to support continuing operations as coronavirus crisis impacts business. Hertz Global Holdings, Inc. (NYSE:HTZ) on May 22 announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. […]
MQVP Parts Certification Program Packs It In
MQVP filed for Chapter 7 bankruptcy on July 18 and will liquidate its assets. The aftermarket parts certifying body MQVP Inc. filed for Chapter 7 bankruptcy in United States Bankruptcy Court in the Eastern District of Michigan on July 18. Bankruptcy judge Marci B. McIvor granted the Michigan based company’s motion to convert its original […]