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On page 13 of the asset sale agreement is the definitive statement on warranties. That's it. They will be responsible for $2,000 per vehicle existing at the time of the pettition date or and aggregate of $400,000. (Let's say about $200 per car) if they produce an additional 250 cars then the aggregate amount increases by $1,000,000 so a total of $1,400,000 so assuming 2000 cars that's about $700 per car. That is it. Period. That is all that wangxiang is legally obligated to provide. Period.

Now that's not to say that they won't do more - but they are not obligated to do anything more.

Also the asset purchase Agreement makes it clear that the new buyers own the name and trademark of fisker and karma. In fact in 60 days the related companies (fisker coach build) and any other companies have to change their name.
 

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Also the asset purchase Agreement makes it clear that the new buyers own the name and trademark of fisker and karma. In fact in 60 days the related companies (fisker coach build) and any other companies have to change their name.
That is very interesting - wonder how Henrik feels having "lost" his name.
 

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On page 13 of the asset sale agreement is the definitive statement on warranties. That's it. They will be responsible for $2,000 per vehicle existing at the time of the pettition date or and aggregate of $400,000. (Let's say about $200 per car) if they produce an additional 250 cars then the aggregate amount increases by $1,000,000 so a total of $1,400,000 so assuming 2000 cars that's about $700 per car. That is it. Period. That is all that wangxiang is legally obligated to provide. Period.

Now that's not to say that they won't do more - but they are not obligated to do anything more.

Also the asset purchase Agreement makes it clear that the new buyers own the name and trademark of fisker and karma. In fact in 60 days the related companies (fisker coach build) and any other companies have to change their name.
Thx - very interesting. So car owners are not part of the unsecured creditors group but dealt with separately by the tops 700 $ deal - how will this administrated - first come first served? A voucher to each vehicle owner? BTW - We should not whine - we have the most amazing cars around and now maybe we can have them properly maintained.
 
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