Fisker asks judge to accept bid from HK, reject one from China

|By:, SA News Editor

Fisker Automotive has asked a federal judge to authorize its proposed sale to Hybrid Tech Holdings, an entity led by Hong Kong tycoon Richard Li, rather than open an auction for the bankrupt maker of hybrid sports cars.

A hearing over the matter was supposed to be held today, but it has been postponed until next Friday due to the snow storms hitting the U.S.

Fisker's request comes after its creditors committee put forward a bid of $24.725M from Wanxiang, China's largest autoparts firm, earlier this week, and asked that the sale be opened up to bidding.

However, Fisker argues that Wanxiang helped push the U.S. company into bankruptcy, a claim the creditors' committee rejects.