This guide covers the key docket facts, the cash-collateral and sale milestones, the approved liquidation plan, and what it means for creditors, shareholders, vehicle owners, and researchers.
One caution before the details. Dates, case identifiers, plan terms, and post-confirmation developments should always be checked against the latest court orders and the official docket.
Key Takeaways
- Case No. 24-11390 (TMH) in Delaware was confirmed October 16, 2024, effective October 17, 2024.
- The case was about monetizing assets, not reorganizing a car maker.
- Two trusts administer remaining assets and claims, and existing equity was cancelled.
- Post-confirmation filings (trust reports, claims work) are separate from the plan itself.
Fisker Bankruptcy Docket: Case Overview and Key Parties
Case snapshot
- Court: U.S. Bankruptcy Court, District of Delaware
- Lead case: In re Fisker Inc., et al., No. 24-11390 (TMH), jointly administered
- Petitions: Fisker Group Inc. on June 17, 2024; Fisker Inc. and the other debtors on June 19, 2024
- Debtors (six): Fisker Inc., Fisker Group Inc., Fisker TN LLC, Blue Current Holding LLC, Platinum IPR LLC, Terra Energy Inc.
- Claims and noticing agent: Verita Global
Many secondary sources list a single filing date. The docket shows two petition dates: June 17 and June 19, 2024.
What each document proves
A docket is the chronological list of everything filed. A plan states the proposed treatment of claims. A confirmation order is the court's approval, and it controls where it differs from earlier drafts. Post-confirmation reports show what actually happened afterward, such as distributions.
Principal parties
- Secured noteholder: The plan allows its secured notes claim at $186.05 million plus accrued interest and expenses. The first-day declaration discusses Heights Capital Management in the prepetition financing context; match the holder to the plan supplement.
- Creditors' committee: Appointed July 2, 2024, with seven members including U.S. Bank Trust National Association, Avnet, Magna International, Keyframe Capital Partners, T-Mobile US, Cristian Fleming, and Mouri Tech. Morrison & Foerster served as counsel.
- Debtor professionals: Davis Polk, Morris Nichols, PJT Partners, TD Cowen, and FTI Consulting.
- Fleet buyer: American Lease LLC.
- Trustee: Matthew Dundon, Liquidating Trustee of the Fisker Liquidating Trust.
Timeline
| Date | Event |
|---|---|
| June 17 and 19, 2024 | Petitions filed |
| June 21, 2024 | First-day declaration (D.I. 37) |
| June 24, 2024 | Cash-collateral authority reported in Form 8-K |
| July 2, 2024 | Committee appointed |
| July 17, 2024 | Fleet sale order (D.I. 243) |
| Oct. 16, 2024 | Confirmation order (D.I. 722) |
| Oct. 17, 2024 | Effective date |
Check each date against the relevant docket entry rather than news coverage.
Tracking the case
Professionals can use BankruptcyData to monitor docket activity, connect filings to stakeholder positions, and follow a case from confirmation through post-confirmation outcomes. For primary sources, pull the petition, first-day orders, sale order, confirmed plan, confirmation order, bar-date order, and the latest trust filings.
Why Fisker Filed and Why the Case Became a Liquidation
The filing context
The first-day declaration describes a capital-intensive business with severe liquidity constraints, falling sales, and EV-market headwinds. Key facts include:
- An Ocean price cut of roughly 11% in late 2023
- Production paused in March 2024 to align inventory and limit costs
- An OEM investor (reported by Reuters as Nissan) withdrew in late March
- No actionable bids for a sale of substantially all assets by mid-May
- $183.05 million of 2025 convertible notes and $667.5 million of 2026 convertible notes
Those note figures are prepetition amounts, not total liabilities.
On June 17, a vendor providing mission-critical software services said it would terminate its contract effective June 18. Fisker Group filed that day to protect value.
Why liquidation
With the OEM gone and no bids, there was no financing or transaction path that preserved the operating platform. The secured noteholder's rights and the need for immediate liquidity also shaped strategy.
Cash collateral had to be used under court authority, and sale of remaining assets became the realistic route. Treat any causal claim beyond what the filings state with caution.
Major Docket Milestones Before and Through Plan Confirmation
Cash collateral
The June 24, 2024 Form 8-K reported authority to use cash collateral through June 28, with a further hearing on June 27. Orders granted adequate-protection liens, superpriority provisions, and a carve-out. A later notice attached an approved budget.
Review D.I. 59 and later interim orders for budget amounts and termination triggers.
The Section 363 fleet sale
- Order: D.I. 243, July 17, 2024, authorized the sale to American Lease.
- Price: The sale declaration described a maximum of up to $46.25 million for the entire inventory. That is a contract ceiling, not verified proceeds.
- Process: The court found the agreement the highest and best offer, with no other offers. The record does not show an auction.
- Objections: Overruled in the order.
- Liability: The buyer is not a successor and assumes only liabilities expressly taken on in the agreement.
The docket describes D.I. 293 as a certification about an amendment, so verify the amendment before citing a later sale-approval date.
Committee role
The committee, appointed July 2, tested the sale, investigated estate value, and negotiated plan terms for unsecured creditors.
Bar dates
- General: September 11, 2024, 5:00 p.m. ET
- Governmental: December 16, 2024
- Administrative: November 18, 2024, 4:00 p.m. ET
- Professional fees: December 2, 2024
- Rejection damages: Later of 30 days after the rejection order and the effective rejection date
Confirmation
The plan and disclosure statement (D.I. 713) were filed October 15, and the confirmation order (D.I. 722) followed October 16. Objections described in D.I. 661 included filings from:
- The SEC
- The U.S. Trustee
- The U.S. on behalf of NHTSA
- American Lease
The order preserves the debtors' Safety Act obligations and provides for owner reimbursement and recall-repair processes.
What Fisker's Approved Liquidation Plan Provides
Liquidation, not reorganization
The plan winds down the estate. Nothing in the court materials shows a restart of vehicle production.
Two trusts
- Fisker Liquidating Trust: Receives non-IP assets and preserved estate claims, serving general unsecured creditors. Matthew Dundon is trustee.
- IP/Austria Assets Trust: Holds defined IP and Austria assets. The secured noteholder receives its units and appoints the trustee; the trustee's name is not readily available in the plan materials.
The plan directs 15% of specified net IP/Austria proceeds to the Liquidating Trust up to $40 million, and 50% of proceeds above that threshold.
Treatment by class
| Class | Treatment |
|---|---|
| 1 Other Priority | Unimpaired; paid in full if allowed |
| 2 Other Secured | Unimpaired |
| 3 Secured Notes | Impaired; $186.05M plus interest and expenses; recovery undetermined |
| 4 General Unsecured | Impaired; estimated claims $1,246.2M-$1,315.0M; recovery undetermined |
| 5 Intercompany Claims | Impaired; deemed to reject |
| 6 Equity Interests | Impaired; cancelled; no distribution |
| 7 Intercompany Interests | Impaired; deemed to reject |
The class table shows no separate governmental or rejection class, though both have their own deadlines.
Releases and exculpation
D.I. 722 approves releases, exculpation, and injunctions. Exculpation excludes willful misconduct, gross negligence, or intentional fraud as finally determined. Governmental police and regulatory powers are preserved.
Recoveries after confirmation
Trusts realize value through claims reconciliation, objections, causes of action, asset sales, and settlements. A trust report filed May 15, 2026 states an interim distribution of 0.75% in Q3 2025. That report does not state a denominator or cumulative total, so do not treat the figure as ultimate recovery. Keep projected recoveries, allowed claims, actual distributions, and unresolved claims separate.
What the Approved Plan Means for Creditors, Owners, Equity Holders, and Researchers
Creditors
Recoveries depend on collateral classification, sale proceeds, trust governance, claims allowance, and administrative expenses. Under the usual priority order, administrative and priority claims come first, then secured, then unsecured. The secured noteholder's claim and trust units are treated separately from general unsecured recoveries.
Shareholders
Class 6 equity was cancelled with no distribution. NYSE announced delisting proceedings in March 2024, and the June 2024 Form 8-K listed the shares on OTC Pink. Brand recognition does not create an equity recovery under the plan.
Vehicle owners
- The sale order does not transfer all Fisker warranty obligations to the buyer.
- D.I. 722 provides for verified owner reimbursement claims and certain recall-related repairs, subject to plan terms and trust funding.
- The IP/Austria Trust owns the Fisker Ocean Connected Environment and licenses it to American Lease non-exclusively from January 1, 2025 to December 31, 2029, at $500,000 per year ($2.5 million total).
That license supports vehicle operation, not a manufacturing revival. Treat confirmed plan obligations as distinct from media reports and temporary arrangements.
Researchers
After the effective date, watch the docket for trust reports, claim objections, distributions, trustee activity, and disputes. BankruptcyData's alerts and case timelines can help with this monitoring.
Research checklist
- Start with Case No. 24-11390.
- Review the latest docket entries.
- Read the operative order, not the earlier motion.
- Compare plan supplements with the confirmed plan.
- Verify post-confirmation updates in the newest trust reports.
Frequently Asked Questions
Is Fisker making a comeback?
Court materials show liquidation, asset trusts, and a time-limited connected-services license for Ocean vehicles. They do not show a production restart.
When did Fisker go out of business?
Filing came June 17 and 19, 2024; the fleet sale order July 17; confirmation October 16; effectiveness October 17. Trust administration continues afterward.
What happened to Fisker Inc. stock?
Equity interests were cancelled under the plan with no distribution. Trading status is separate; NYSE moved to delist in March 2024, and current OTC status is unverified.
What did Fisker's approved bankruptcy plan do?
It liquidates the estate through two trusts, cancels equity, leaves secured and unsecured recoveries undetermined, and continues administration after October 17, 2024.
Where can I find Fisker's bankruptcy docket and court filings?
Use Delaware's ECF system (ecf.deb.uscourts.gov) or Verita Global's Fisker case page, searching by No. 24-11390. BankruptcyData is a professional option for monitoring filings.
