Ex-A123 Battery Maker Accord Cuts Fisker Claim by 89%
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The bankrupt electric-car battery maker formerly called A123 Systems Inc., now renamed B456 Systems Inc., reached a settlement in which Fisker Automotive Inc. reduced its claims by 89 percent to $15 million.
The accord with the bankruptcy’s unsecured-creditors’ committee will substantially cut Fisker’s $140 million in claims stemming from a rejection of its supply agreement and alleged breach of warranty obligations, according to court documents filed April 2 in Wilmington, Delaware. The agreement will benefit all unsecured creditors, the committee’s lawyers said.