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Fisker Automotive Prepared to File Chapter 11 as Soon as This Week

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Fisker Automotive could file for bankruptcy protection as soon as this week as the U.S. Department of Energy starts pressuring the green-car startup to pay back nearly $200 million in government loans, Reuters reported yesterday. The DOE appears to be pushing for a chapter 11 filing soon by Fisker, and the company's attorneys have drawn up bankruptcy documents and are ready to file in the next few days. Fisker's board of directors will discuss its options at a meeting today. The directors, who have not given up on a possible sale, are expected to make a decision on the timing of a possible chapter 11 bankruptcy filing at that time.