Ener1 Wins Approval of $13.5 Million Bankruptcy Financing
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Ener1 Inc., a maker of lithium-ion car batteries that filed for bankruptcy yesterday, won interim court approval to borrow $13.5 million to finance operations during its reorganization.
The company had sought permission to take $20 million from shareholder Bzinfin SA, controlled by Ener1 director Boris Zingarevich. U.S. Bankruptcy Judge Martin Glenn in Manhattan today refused to approve all of Ener1’s request.