Browsing the "a123 bankruptcy" Tag

Fiskers Claims Against A123 Systems Cut By 89%

April 10th, 2013 | by Nicholas Brown

Fisker Automotive made claims of $140 million against A123 Systems (now called B456 Systems. They moved onto the next letter in the alphabet and used the three numbers after 123) because of the rejection of its supply agreement and alleged breach of warranty obligations. The claims were $91.2 million for damages caused by rejection of its supply agreement, and $48.7 million for a breach of warranty obligations. But most of these claims were rejected


China’s Wanxiang Buys Battery Maker A123 Systems For $260 Million

December 10th, 2012 | by Christopher DeMorro

Call it the worst case scenario come true. After going through a court-managed bankruptcy and auction, defunct EV battery maker A123 Systems has been (mostly) sold to Chinese auto parts maker Wanxiang group The selling price of $256.6 million was the highest bid, though the sale still has to be approved by the government



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