Fisker Automotive Holdings Inc., the defunct maker of luxury plug-in cars, won bankruptcy court approval of a liquidation plan that will distribute proceeds from a $149.2 million asset sale, Bloomberg News reported yesterday. Fisker, now known as FAH Liquidating Corp., sought creditor protection in November, blaming the bankruptcy of its battery supplier, safety recalls and shipments lost to Hurricane Sandy. In February, the company won court approval to sell its assets to China’s Wanxiang Group Corp. for an offer valued at $149.2 million, almost six times what it had sought when it filed for bankruptcy. Wanxiang previously bought the successor to the U.S. company that had supplied Fisker’s batteries. U.S. Bankruptcy Judge Kevin Gross yesterday approved Fisker’s liquidation plan, which received support from about 95 percent of all voting creditors by number and more than 99 percent by value.
