Corruption-fearing western executives are still squeamish about investing in Africa, but legal firms hope to make big bucks from assuaging those concerns.
DOVER - Bankrupt electric-vehicle maker Fisker Automotive says former employees who were abruptly laid off in April have no valid claims against the company.
Fisker attorneys asked a Delaware judge in court papers this week to consider the demands of 157 former employees as general unsecured claims with zero value.
The former employees, who filed a federal lawsuit in California alleging inadequate notice of the layoffs, claim they are owed about $3.8 million, with about half that amount entitled to priority over other creditors&39; claims.
Fisker attorneys want the judge to rule on their motion at a Jan. 3 hearing, when he is scheduled to consider approval of Fisker&39;s proposed sale.
Fisker sought bankruptcy protection last month, three years after receiving a $529 million loan commitment from the Obama administration.