Fisker Hauptforum Forum: Community User: Keko
docket 630 OBJECTION BY THE U.S. SECURITIES AND EXCHANGE COMMISSION TO THE FIRST AMENDED COMBINED DISCLOSURE STATEMENT AND CHAPTER 11 PLAN OF LIQUIDATION OF FISKER INC. AND ITS DEBTOR AFFILIATES The U.S. Securities and Exchange Commission (the “Commission”) objects to the Combined Disclosure Statement and Chapter 11 Plan of Liquidation of Fisker Inc. and its Debtor Affiliates dated September 23, 2024 (ECF No. 588, the “Plan”). First, the Plan contains a nonconsensual third-party release, which is prohibited under the Supreme Court’s ruling in Harrington v. Purdue Pharma L.P., 144 S.Ct. 2071 (2024). The release is nonconsensual as it applies to holders of Equity Interests (Class 6) because failure by public shareholders to return an opt-out form is insufficient evidence of shareholder consent.1 Second, the Plan must contain language (proposed in para. 24 below) to adequately preserve the Commission’s police and regulatory powers with respect to its pending investigation (including the preservation and production of corporate records) and possible future actions alleging violations of the federal securities laws. https://www.veritaglobal.net/fisker/document/2411390241004000000000004
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