a123

It's official: A123 Systems Inc. is passing through its final phase. The bankrupt lithium ion battery maker, now going by the name B456 Systems Inc., has won court approval for its plan to exit bankruptcy that pays off creditors from proceeds gained by selling off virtually all of its ...

Lithium-ion battery developer A123 Systems is re-emerging from its bankruptcy and sale to China-based Wanxiang Group as ... well, we're not sure exactly what. Wanxiang is starting a new division called A123 Venture Technologies, Green Car Congress says. The buzzwords are strategic partnerships ...

Fisker Automotive and what was formerly A123 Systems have received approval of their settlement in which Fisker's claims against the bankrupt battery maker were reduced by 89 percent, Bloomberg News reports. Fisker's claims against what's now B456 Systems were reduced to $15 million from $140 ...

Any self-respecting dealer would refuse to sell a Fisker Karma extended-range plug-in for a mere $12,000, but Fisker Automotive may be taking that approach with former battery supplier A123 Systems by settling for about 11 cents on the dollar in a bankruptcy-court claim. The California-based ...

Details of the A123 Systems bankruptcy proceedings are getting ironed out, and have been given the green light by US Bankruptcy Judge Kevin Carey. The federal judge approved an outline of lithium ion battery maker A123's liquidation plan to be used by creditors, who will decide whether to vote ...

Fisker Automotive is accusing battery maker and former vendor A123 Systems of funny math after the latter company filed documents of its debt levels with the US Bankruptcy Court, Reuters says. The California-based maker of the extended-range plug-in Karma says A123 owes it more than $212 ...

Fisker Automotive has hired a consultant to oversee day-to-day operations in an effort to conserve cash, and may seek partner or acquisition bids next month, Bloomberg says. Fisker spokesman Roger Ormisher says the California-based maker of the Karma extended-range plug-in luxury vehicle has ...

Wanxiang Group's acquisition of lithium-ion battery maker A123 Systems has been approved by the US government, according to a statement from the Chinese auto parts maker. Wanxiang's US unit had agreed to pay $257 million for A123's automotive battery business and related assets in a bankruptcy ...

The bankruptcy proceedings for A123 Systems are moving relatively smoothly toward completion, and it looks like Wanxiang America Corp. and Navitas Systems LLC should complete the transactions within the guidelines of the court-ordered asset purchase agreements by February 1, 2013. Chinese parts ...

Johnson Controls isn't taking the bankruptcy sale of A123 Systems to the Chinese company Wanxiang lying down. Wanxiang won the bankruptcy court sale for $256 million on December 11 and, today, Johnson Controls has filed an appeal against the sale because it "objects to delay in payment of ...