Fisker, the prominent electric vehicle manufacturer, finds itself embroiled in controversy following a dubious agreement struck with one of its key creditors, Heights, just before declaring bankruptcy. This agreement notably grants Heights the authority to liquidate Fisker’s inventory of its flagship Ocean SUVs.

Legal counsel Liz, representing a creditor of Fisker, vehemently criticized the agreement, labeling it “alarming” and “suspicious.” She pointed out that Fisker should have filed for bankruptcy months earlier and argued that managing liquidity outside the purview of the court is legally questionable.

On the other hand, Scott Grisman, legal representative for Heights, defended the agreement as “appropriate” and “essential” for salvaging Fisker from impending collapse. Grisman emphasized that Heights stands to incur substantial losses in this ordeal, given their sizable debt owed by Fisker.

Financial analysts speculate on Fisker’s uncertain future post-bankruptcy, predicting that the sale of Ocean SUV inventory will only marginally satisfy Heights’ secured debts.

Meanwhile, Linda Richenderfer, a lawyer from the U.S. Trustee Program, Department of Justice, asserts that Heights holds valid rights in this contentious legal matter.