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Discussion Starter · #1 ·
We should start thinking about this now, not after the filing. We may be the only group that can get access to cash for warranty work. I'm not a lawyer, but believe that after set aside for attorneys fees, the warranties will be pretty high up on the priority list.
Is there a public list of all Fisker owners? If not how do we get names?
 

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Mikey43 thats funny that you posted this. i was thinking the same thing. Maybe Class Action? i'm in the same boat as you i'm not a lawyer...
 

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Having been involved in several bankruptcies, working with the best law firms in the US I believe it is time to plan for the inevitable rather than head in the sand hoping at all turns out for the best. I am not a lawyer but I worked on a warranty claim against Enron Wind. It is important to realize that although a manufacturer may set aside a small percent typically 5% for warranty work the lack of parts may qualify for a lemon law claim.
Unfortunately, the Fed is holding a security interest in everything of value real or tangible Given the size of the loan and not knowing what the pecking order is for the rest of the lenders to FA I doubt there is anything left for the Owners.
There is a chance that the FA management enters into bankruptcy with an approved reorganization plan. If that is the case we do need to be ready to have our day in court.
 

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Going after FA may be an exercise in futility. Perhaps there is a legitimate claim (class or individual) to be filed against the dealer(s) instead?? Something to consider.

I'm definitely not a lawyer, nor do I play one on TV.
 

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Not sure, how it works in the US, but is there a law about a charge against the board of directors for delaying the bankruptcy?

They are currently getting money for doing exactly WHAT? ... instead of limiting the drawbacks for the lenders and owners....


Stefan
German Karma Forum
www.karma-forum.de
 

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Maybe i'm wrong but when you buy a car there is some money in the price for warranty i think?
 

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Maybe i'm wrong but when you buy a car there is some money in the price for warranty i think?
When you bought your car, would you have bought it without a warranty?

If no, then the warranty was an inducement to sign on the dotted line. Now that the warranty is not being warranted, is the purchase contract valid? If no, then shouldn't you be able to return the car ask for your money back?

That could be the case, but it would be up to a court to decide that.

Check with a good lemon law lawyer in your state to see what you can do.

I'm working towards this in Georgia, but first I'm trying to see if the dealer will work with us.

And yes, I do think the owners should hire a lawyer and file lawsuit to force Fisker to perform warranty. If they file BK, then we would just get in line behind the other creditors. There may be nothing left, but we won't know until we get in line.

Bill
 

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I am waiting to hear back from a lemon law (federal and AZ) attorney but it would not be a bad idea to find out if the dealers have any obligation to honor service under the warranty or refund the purchase price if a part is required and not available under lemon laws. This would most likely be on a state basis so class action may not be of any help. For those that have an issue arise, it may be a something the dealer has to handle at their expense since they sold the car and warranty. For cars that just need routine warranty maintenance, we may be SOL. In Arizona, if anything bad is to happen it has to be within the 1 st 2 yrs from delivery of the car so after that there is no doubt nothing can be done. If the car does not have any issues prior to that then also be stuck as problems after 2 yr do not constitute a "Lemon" and there is no recourse.
 

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Discussion Starter · #9 ·
i think, but not sure, that in bankruptcy the 2nd carve out would be for warranty (the first would be for legal and accounting).Anything after that will go to first lienholder. Will try to do some research on the web. Anyway, it will be a hollow victory if there is nobody out there to effectuate the warranty. It will not be the dealers because they don't have the capability to to perform the work.
 

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The warranty agreement is between the Manufacturer and the end User. The dealer acts as an intermediary and gets compensated for services rendered. I see no basis going after a dealer. Unless the dealer promised stuff in writing at the time of sale the dealer is not in the equation. But I could be wrong. Or better still I wish I was wrong ...
 

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Discussion Starter · #11 ·
just found this in a NY times article from 2009:
In a classic Chapter 11 reorganization, an automaker would not be able to put consumers with warranties ahead of other people to whom it owes money, said Theodore Eisenberg, a bankruptcy expert and professor of law at Cornell University.
“They would not have discretion under current law to say, ‘I want to do these warranties,’” Mr. Eisenberg said.
Doing that would mean the automaker was favoring one group to which it owes money over another, he said.
In a classic Chapter 11 reorganization, an automaker would not be able to put consumers with warranties ahead of other people to whom it owes money, said Theodore Eisenberg, a bankruptcy expert and professor of law at Cornell University.
“They would not have discretion under current law to say, ‘I want to do these warranties,’” Mr. Eisenberg said.
Doing that would mean the automaker was favoring one group to which it owes money over another, he said.


NOT GOOD!!!
 

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just found this in a NY times article from 2009:
In a classic Chapter 11 reorganization, an automaker would not be able to put consumers with warranties ahead of other people to whom it owes money, said Theodore Eisenberg, a bankruptcy expert and professor of law at Cornell University.
“They would not have discretion under current law to say, ‘I want to do these warranties,’” Mr. Eisenberg said.
Doing that would mean the automaker was favoring one group to which it owes money over another, he said.
In a classic Chapter 11 reorganization, an automaker would not be able to put consumers with warranties ahead of other people to whom it owes money, said Theodore Eisenberg, a bankruptcy expert and professor of law at Cornell University.
“They would not have discretion under current law to say, ‘I want to do these warranties,’” Mr. Eisenberg said.
Doing that would mean the automaker was favoring one group to which it owes money over another, he said.


NOT GOOD!!!
Mr Eisenberg will also tell you that the in bankruptcy court it is the Judge who decides who gets what and why. I have seen settlements where all unsecured claims regardless of how clever their lawyers were settled at a fix % of the claim.
 

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Is it me or don't you all think its taking a long time for them, if they are going to file bankruptcy?
 

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If they file BK then the equity holders (Kleiner etc.) get wiped out. So as long as there is a shred of hope of doing some deal that can keep the equity holders in the game, they will stave off BK -- until there is nothing left.
 

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Discussion Starter · #16 ·
No hope I think. Deal, or bankruptcy should have happened long ago. My only worries are repairs and maintenance. Don't care who comes to our rescue. Just be there when I need you
Do you think the day our cars die will be known as "Karmageddon"?
 

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No hope I think. Deal, or bankruptcy should have happened long ago. My only worries are repairs and maintenance. Don't care who comes to our rescue. Just be there when I need you
Do you think the day our cars die will be known as "Karmageddon"?
Already a song written for us.....

 

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In yet another sign of the approaching Karmageddon, the warranty information has disappeared from the Owners page of the current incarnation of Fisker's Website. When this version popped up, the Owner's page had a link to the warranty information on it but in the last week or so, that link has been removed, along with the link to the Federal and State EV incentives. The other links to the handbook, service schedule, etc. are still there and still valid. If you need any of these documents, I suggest you download them now.
 

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In yet another sign of the approaching Karmageddon, the warranty information has disappeared from the Owners page of the current incarnation of Fisker's Website. When this version popped up, the Owner's page had a link to the warranty information on it but in the last week or so, that link has been removed, along with the link to the Federal and State EV incentives. The other links to the handbook, service schedule, etc. are still there and still valid. If you need any of these documents, I suggest you download them now.

 

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If you buy a new Karma after Fisker goes BK, do you think the $7500 EV tax credit still applies?
 
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