In 2022, nine members of LOONA attempted to have their exclusive contracts suspended following Chuu’s expulsion from the group. LOONA | BlockBerry Creative This ultimately resulted in several legal battles, with members’ contracts suspended over time. In June 2023, the Seoul High Court’s civil affairs department ruled in favor of the remaining LOONA members in their legal battle […]
Fisker asks bankruptcy court to sell its EVs at average of $14,000 each
Fisker has a willing buyer for its remaining inventory of all-electric Ocean SUVs, and has asked the Delaware Bankruptcy Court judge overseeing its Chapter 11 case to approve the sale. If approved by the judge, Fisker would be able to offload 3,321 finished EVs to a New York-based vehicle leasing company for $ 46.25 million. […]
EV startup Fisker files for bankruptcy
Fisker Inc., the EV startup founded by famed designer Henrik Fisker, filed for Chapter 11 bankruptcy protection — a capstone to months of problems with its Ocean SUV that included recalls and dozens of lemon law lawsuits. The California-based company, which filed for bankruptcy in the Delaware Court, had been seeking a deal with another […]
A US Trustee wants troubled fintech Synapse to be liquidated via Chapter 7 bankruptcy, cites ‘gross mismanagement’
The prospects for troubled banking-as-a-service startup Synapse have gone from bad to worse this week after a United States Trustee filed an emergency motion on Wednesday. The trustee is asking to convert the company’s debt reorganization Chapter 11 bankruptcy into a liquidation Chapter 7, according to court documents. The trustee wrote that the need for […]
Fisker plans more layoffs as cash dwindles and bankruptcy looms
Fisker says it’s planning more layoffs less than two months after cutting 15% of its workforce, as the EV startup scrambles to raise cash to stay alive. Fisker expects to seek bankruptcy protection within the next 30 days if it can’t come up with that money, according to a U.S. Securities and Exchange Commission regulatory […]