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The Bankruptcy StrategistLJN NewslettersNewsSections

You Know About <i>Fisker</i>

By Jonathan Brand and Jonathan Friedland
July 02, 2014

TRUE or FALSE: Lienholder buys a distressed loan from original lender. Lienholder acts appropriately and reasonably at all times and lien is valid and perfected. Lienholder has an increased risk of having its credit bid limited or capped because of In re Fisker Automotive Holdings, Inc., 2014 WL 210593 (Bankr. D.Del. Jan. 17, 2014).

FALSE. Much has been written about Fisker's potential impact on credit bidding, including warnings of the sky falling. Fisker stands for something less dramatic, and already well known, to debt purchasers. Simply stated, the sky is not falling. And, in the midst of all the noise, Fisker's import has been exaggerated, as it really covers no new ground.

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