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Electric-Car Maker Coda Files for Bankruptcy to Seek Sale
Topic Started: May 3, 2013, 7:20 am (253 Views)
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Electric-Car Maker Coda Files for Bankruptcy to Seek Sale
By Michael Bathon & Kit Chellel - May 1, 2013 5:07 PM CT
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Coda Holdings Inc., parent of the electric-car maker backed by billionaire Philip Falcone, filed for bankruptcy and will seek to sell its assets to a group led by a Fortress Investment Group LLC (FIG) unit for $25 million.

The Los Angeles-based company, whose Coda Automotive unit also sought court protection, listed assets of as much as $50 million and debt of as much as $100 million today in the Chapter 11 filing in Wilmington, Delaware. The company said it intends to sell its assets within 45 days
To read more > http://www.bloomberg.com/news/2013-05-01/electric-car-maker-coda-files-for-bankruptcy-to-seek-sale-1-.html
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