The fight over Fisker's assets is already heating up

At issue is the relationship between Fisker and its largest secured lender, Heights Capital Management, an affiliate of financial services company Susquehanna International Group. Heights loaned Fisker more than $500 million in 2023 (with the option to convert that debt to stock in the startup) at a time when the company's financial distress was looming behind the scenes. Alex Lees, a lawyer from the firm Milbank who represents a group of unsecured creditors owed more than $600 million, said in the proceedi ...