Fisker on the Brink of Liquidation: The Tale of a Failed Dream and a Contested Future

Fisker, the US electric car start-up, is on the brink of liquidation after filing for bankruptcy protection. The reason behind this is a disagreement between two groups of creditors regarding the order in which remaining assets should be distributed. The company had initially planned to secure additional financing and continue operations on a reduced scale, but has now determined that obtaining the necessary funds is unlikely. As a result, Fisker is making preparations to sell off its assets, with a potential buyer lined up for all 4,300 vehicles.

The Austrian subsidiary of Fisker, Fisker Austria, is also facing insolvency. The company has liabilities amounting to 1.34 billion euros and is seeking a restructuring plan that hinges on securing an investor. Ongoing discussions will determine the viability of this plan. The insolvency court has closed several divisions of the Austrian subsidiary, leading to significant cost reductions and a decrease in the number of employed personnel.

According to a recent report and hearing on the insolvency proceedings of Fisker Austria, there are more than 161 registered claims filed by creditors totaling over 1.16 billion euros. Out of these claims, over 10.92 million euros have been recognized while 1.15 billion euros are being disputed. The future of Fisker Austria heavily depends on the success of its restructuring efforts and the ability to attract an investor