Obama green-car company prepares for bankruptcy

Fisker hires law firm to prepare for possible bankruptcy -source

Fisker Automotive, the green-car company that has not built a car since July, has hired law firm Kirkland & Ellis to advise it on a possible bankruptcy filing, a person close to the matter said on Thursday.

Kirkland’s Anup Sathy, a bankruptcy lawyer who handled the Chapter 11 filings of General Growth Properties and Innkeepers USA Trust, is advising the U.S. automaker, the source said, declining to be named because the matter is not public. Neither Kirkland & Ellis nor Sathy were immediately available to comment.

Fisker, which furloughed its more than 200 U.S. workers this week to conserve cash, has been exploring bankruptcy as an option while it continues to look for a strategic partner, two other sources briefed on the matter said late on Wednesday.

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Yet ANOTHER FAILURE in Obama’s “Green Companies”, and again the taxpayers get screwed!


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