With a substantial repayment of the $ 529 million loan guarantee it received almost four years ago –courtesy of the U.S. taxpayer — coming due at the end of the month, the electric car company Fisker is exploring the idea of filing for bankruptcy before then. Sources have confirmed that an influential law firm from… Read more »
Posts Tagged: bankruptcy
Stockton Declares Bankruptcy Despite a Booming Economy
RUSH: This is a bankruptcy due to the unfunded future liability of pensions that they can’t possibly pay. Source: Rush Limbaugh – All Content
Obama Loan Recipient Fisker Preps for Bankruptcy
Fiscker Automotive, a darling of the Obama Administration’s push for green energy and electric cars has hired the powerful Chicago-based Kirkland Ellis law firm to explore a potential bankruptcy filing, according to reports. The car company, which received a federal $ 529 million loan guarantee in 2009, furloughed 200 US workers at the end of… Read more »
Judge allows California city to enter bankruptcy, largest municipality to go bust
Stockton, Calif., became the most populous city in the nation to go broke Monday, after a judge accepted the city’s application to enter bankruptcy. Source: FOXNews.com