Fisker’s Bankruptcy Hits Unexpected Obstacle Over Fleet Sale
Fisker’s Chapter 11 bankruptcy proceedings have encountered a significant complication that could derail the sale of its remaining electric vehicle fleet. The would-be buyer now claims critical vehicle data cannot be transferred due to technical limitations, throwing the entire liquidation plan into question.
The Core Issue: Irreplaceable Vehicle Data
New York-based leasing company American Lease, which agreed to purchase Fisker’s remaining 3,000+ Ocean SUVs, has filed an emergency objection in bankruptcy court. The company alleges that:
- Fisker cannot transfer essential vehicle information to servers not owned by the bankrupt automaker
- This data is required for proper vehicle operation and maintenance post-sale
- The issue was only disclosed after American Lease had already paid “tens of millions” toward the purchase
Bankruptcy Timeline in Jeopardy
The revelation comes at a critical juncture:
- The bankruptcy court was expected to confirm Fisker’s liquidation plan this week
- Sale proceeds are funding Fisker’s ongoing bankruptcy process
- The automaker claims approximately $1 billion in assets remain to be liquidated
American Lease is now seeking to:
- Delay Wednesday’s scheduled hearing
- Conduct expedited discovery into when Fisker became aware of the technical limitation
Broader Bankruptcy Challenges Emerge
This development adds to Fisker’s growing list of bankruptcy complications:
- SEC Investigation: Regulatory scrutiny revealed in recent court filings
- NHTSA Objection: DOJ challenged Fisker’s attempt to make owners pay for recall repairs
- Abandoned Headquarters: Landlord claims facility left in “complete disarray” with potential hazardous waste
What Comes Next?
The court must now determine:
- Whether the data transfer issue constitutes a material breach of the purchase agreement
- If American Lease can recover its substantial upfront payment
- How Fisker will fund ongoing bankruptcy proceedings without the fleet sale proceeds
A Fisker spokesperson declined to comment on the latest developments. The bankruptcy court’s decision could significantly impact the timeline and outcome of Fisker’s Chapter 11 proceedings.
Editor’s Note: This story is developing and will be updated as new information becomes available.
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