Fisker has one major objector to its Ocean SUV firesale

Core Viewpoint - The U.S. Trustee's office is objecting to Fisker's proposed sale of its fleet, citing concerns over the sale process and the need for more transparency regarding the company's asset valuation and marketing efforts [1][3][9]. Group 1: Sale Necessity and Financial Context - Fisker claims that the sale is essential to provide a financial buffer to sustain its bankruptcy proceedings while creditors dispute remaining assets [2]. - The company has estimated its total assets to be between $500 million and $1 billion but has requested a delay in disclosing this information as it is still being compiled [2]. Group 2: Objections and Concerns - The U.S. Trustee's office criticized Fisker for not adequately marketing the fleet and for rushing the sale process, suggesting that the vehicles were offered at "fire sale prices" [3][9]. - Ideal Motors, a dealer partner, also objected to the sale, claiming improper notification and expressing concerns about the unprecedented speed of the process [5]. Group 3: Support for the Sale - Despite objections, Fisker has significant support for the sale, including backing from its largest secured lender and the committee of unsecured creditors, which includes parties owed money [6][7]. - The sale could potentially reach around $46.25 million, with all Ocean SUVs configured for the North American market being sold to American Lease, a company servicing ride-hail drivers in New York City [6]. Group 4: Legal Proceedings and Hearings - A hearing is scheduled in Delaware Bankruptcy Court where arguments will be presented regarding the approval of the sale [1]. - The Trustee's office has filed objections outlining reasons against the sale as currently structured, emphasizing the need for more information on the sale process [8][10].