Fisker's Fleet Sale - What you Need to Know Before the Hearing
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Can I review your EV? Any Make/Model/Year Let me know at this Email
Contact email: adamsevreviews@yahoo.com
I love this show.
I bet you never thought in your wildest dreams your Fisker content would be covering it in such an unusual manner.
I couldn’t have said this more accurately. I am certainly learning.
@@Aslash304👏🏾
@@Derpy1969 i bet Adam's good lady must look to the skies and roll her eyes when he says he's got more news on Fisker lol i feel for her, but hopefully it will all be over soon.
Just grateful to Adam for such quality research and analysis videos!
Thank you Adam. Your evaluation and walkthrough of the ongoing situation is beyond helpful to us owners who are hanging in there with our Oceans. There remains (if ever so dim) some hope to keeping our vehicles running, safe and legal. My biggest concern/disappointment though is that Fisker themselves seem still seem to be looking for an early escape. The fact that the unsecured committee is pushing hard to restrict Heights and prevent this suspiciously rapid sale is very welcome. I am keen to see how tomorrow’s sale hearing goes.
BIG THANK YOU😎
Thanks for this!
Nice 50k paperweight
I have a lot of Fisker stock 😢…. I went all in a few years ago
I’m very sorry.
😂
Thank you for your extensive study of the situation. Hope fisker would succeed soon. This is a very important action towards Fisker development.
Indeed it is
What is interesting is that we now see the full-on greed of Susquehanna/Heights as they have, potentially, received their return on investment and want even more. I am pretty sure this won't happen but it sure would be nice if the judge says that the Owners of the Oceans, early adopters, purchased their Oceans with contracted warranty, parts, service, etc. In other words, the judge saying, parts were supposed to be made available for the 10 year period. If I read that correctly, Fisker was supposed to have an inventory or available to obtain parts inventory for 10 years. Would also be nice to have the Judge say that warranty money was to be collected per each purchase and set assign for warranty issues. If I read these correctly then there should be accountability. In fact, going forward with start-ups there should be legislation and oversight to make sure this never happens again. So, would be nice if the Judge says that Fisker is responsible for these warranty and parts availability PLUS the recalls as these recalls are safety mandated by Government. In the condition that Fisker is in, financially, since Heights is declaring ownership of inventory and have collected on their debt then they should be responsible for making the early adopters Oceans made whole in parallel with Fisker. Perhaps Fisker needs to be funded to complete these obligations and funded by Heights to remain solvent. Owners need to be made whole on warranty, parts, OTA updates up to level 4.0, recalls and even the promised benefits of the Ocean One owners. But I doubt any of this will happen, BUT, maybe it should. Promises were a contract between the Ocean early adopters. The contract has been broken and there needs to be a legal remedy to make buyers whole.
No warranty, no software.
Thanks Adam. Well done. I really appreciate how you lay everything out.
I appreciate you. Thanks for tuning in.
I’ve been critical of these videos, but all in all this was a relatively good recapitulation. I wasn’t at the hearing so I don’t know that all sides were presented, but seems all right. Thanks for the information.
Thanks for watching.
@@Aslash304 Videos seem pretty dam great and insightful to me!
Thank-you for the good read in court proceedings, Adam! 🤔 I guess the sale of vehicles is coming up for the control of the bankruptcy court, not the creditors. If the company means to exit Chap. 11, then the employees get paid as a priority.
It looks like warranty items will get sorted.
I’m curious to find out what happens to the shares, whether they’ll all be subject to the same class, meaning no more two classes of equity. Shares can also be thrown out in bankruptcy court to be replaced by new shares. There’s an article about this under the SEC website, where the old shares with a ‘Q’ post fix are extinguished, and new shares with a ‘V’ post fix are created.
That Fisker is taking a $1 salary suggests they mean to exit from bankruptcy, while the creditors are anxious to push the chapter 7 outcome, where they believe they can claw back as much money from the asset sale as possible.
The recent claims and counterclaims place the company firmly under the control of the court process.
It’s all in the Court’s Court. (One sports reference, one judicial reference).
Thank you Adam for taking the time to dissect the hearing and the motions to give us the meat of it.
Thanks for tuning in!
This is your second best video (after the finance 101)
Thanks for this!
You should investigate Heights, appears there might be corruption.
Good idea
I didn't realize the "note holder" was a secured creditor. I imagined Fisker stating, "If you don't give us more time, we'll go bankrupt and you won't get anything." Note holder says, "No you won't cuz you want to keep getting paid." Fisker says, "Try me." So here we are.
That’s what the defaults were about. Claiming Fisker’s Assets.
great info, although trying to read legalese only confirms that I was dropped on my head as a child.
Pretty clear that all of this so far will offer nothing to current ocean owners. tomorrow should be interesting !
Yes it will!
Thank you again Adam. I wouldn't have the patience to wade through all this myself.
Thanks for the continued coverage. I never got an Ocean, and lost a little on stock, but now I am out and still obsessed with knowing how this all turns out!😂
Ditto! Very interested in the outcome
The stock price indicates chapter 7. -60% today. Smoke and mirror
Another great video Adam!
@@Littlebittyrose thank you for this
Fisker shares now gone so low, they are 0.0021
How many zeros are they going to use before they foreclose?
0.00000001 of a cent?
Hi Adam
This is from Uk Fisker quoted
"Thank you for your email. I regret to inform you that Fisker Inc has filed for insolvency in the UK. During the ongoing insolvency proceedings Fisker (GB) Limited has ceased trading and our UK Team have been advised to stop all work until further notice.
This inbox is unlikely to be monitored but I will try get back to you if/as/when I am available to do so."
Basically it means dead 99%. Absolutely crazy , what recall about door handles, water pump!! I think everywhere will be the same. 🤦🏻♂️🤦🏻♂️
It already is the same. The company is based out of the US, and they filed for Bankruptcy in Mid June.
Surely the FOC needs to pursue the Magna responsibility in the supply , manufacture and warranty agreement. Magna must have agreed all these post manufacturing responsibilities such as recalls spare parts and software fixes and updates. Magna is the only one who is capable to ensure the Oceans don't become bricks.
A lot of the parts weren’t made by Magna, as Fisker sourced parts from less reputable companies because they would be cheaper
@@Aslash304 No Fiskers had no hand in the design or their assembly in Austria. Océans are designed and constructed by Magna including software
@RAHellemans you challenging Adam on this? Good luck!
Even Fisker engineers have stated cheaper parts were sourced by them, not Magna!
GF instructions to save money. So Magna have no legal responsibility or warranty claims.
@@Turbomgzt Oh yes they sourced cheaper parts from their US location send them to Austria to be assembled and they were still cheaper. Fiskers were never an car manufacturer: styling and marketing was their terrain. So the aftersales, warranty, software updates and recall services are part of the the Fisker/Magna agreement. Yes I understand that Magna likes to keep a low profile on this bankrupcy but for the owners there is something to claim/fight for.
@@Turbomgzt yes Fisker Engineers sourced cheaper part and shipped them to Austria for assembly? Involved with Magna in the parts sourcing effort perhaps. If Fisker negotiated a supply contrat without articles of the handling/liabilty of manufacturing defects they are/were totally incompetent.
Question: Since you have a Tesla EV and driven a Fisker Ocean like me. When you have your Tesla in your garage and charging or not does it get very Warm inside your Tesla compared to the Fisker Ocean. My Fisker seems to be very warm for some reason after charging overnight. Also, my Mirror fan is now coming on even though I have Software version 2.0. Also, does this warm inside true of all EV's like the RIVIAN, etc...
My Teslas have never done this. I didn’t get it with the ocean either, but didn’t own it very long
Good job
Thanks for this
9:17 - Resnick stated they received one inbound of a potentially interested party in which they sent to them a NDA. Does this mean a buyer? Is this why they didn't trigger Ch. 7?
What was said in the hearing was all included in this video. Time will tell.
Great coverage as usual. So sad. Where is Henrik in all this? He is continuing to hide and pretty much stay silent like a coward. Where is the fight to keep his company alive to help out all the OG retail
Investors that supported him and believed the BS he was spewing all along. I never would have kept averaging down if Henrik didn’t engage us on stocktwits and Instagram leading us to believe all was good and all the naysayers were wrong. We continually asked for transparency and all we got was lies.
Transparency was certainly absent throughout
From Fisker Inc reviews and what's coming to Bankruptcy channel expert...the life and times of the Big Swindle.
I am just as surprised as anyone else where this has led.
@@Aslash304 I am not surprised. Very disappointed though.
Any news on Magna, do they have any skin in the game?
Further bad news for Magna, JLR will axe all Jaguar models apart from the F-Pace ahead of the marque’s reinvention as an EV-only luxury brand.
That means the E-Pace and electric I-Pace, both assembled by Magna Steyr in Austria, will now be withdrawn, following on from the Castle Bromwich-made XE, XF and F-Type, which were pulled from production in June.
Magna is an unsecured creditor. That’s where we are at as far as the Bankruptcy.
How can I buy a fisker from American Lease or how can I reach out to them? Do you have a number? Thanks
They're planning to use them as taxi cabs in NYC and are not allowed to sell them for atleast 12 months.
Wait until they put them under sale in 12-24 months.
@@minghiy Thanks.
Look for them in used car sites. You’ll have better luck
@@gilbertnau6002 obviously looking for Oceans to break. There will be a market for spares. But not that big a market i would think.
Hay if chase owns my loan due I have a claim please advise
You’ll need to file a proof of claim. The videos are here on the channel
So is there a 1 in a million chance the stock will bounce back.
There’s a tiered system of who is paid first. Fisker is selling their last vehicles for $46 Million. There is $1 Billion plus to be paid out. czcams.com/video/vMPTIsDhwWo/video.htmlsi=au59fs1s37fedHyb
Kickback collusion, baby!
Well put
@@Aslash304 I smell something rotten in Denmark
Oh Look all the beautyfull Fisker Cars!Sadly still can find cheap ones Here in Switzerland!:(
Why would you buy a lemon?🤔
Fisker Oceans that soon will be undriveable and unsafe!
Thanks for your feedback
@@harmony3138They are amazing and just extremly beautyfull,Its ok to have some problems with them!
All part of the plan all along.
I appreciate the feedback
Wild
Well said.