The Electric: One Creditor Stands Above Others in Fisker’s Bankruptcy

Fisker CEO Henrik Fisker introduces the Fisker Pear hatchback in August. Photo: Frederic J. Brown/AFP

Its cash reserves dwindling, electric vehicle maker Fisker last year obtained $510 million in funding from Heights Capital Management, a San Francisco–based investor in distressed assets. But when Fisker missed a November deadline for a securities filing, Heights gained the rights to all the company’s assets.