Sure, Fisker is dead, but its legal problems aren’t going away anytime soon. The troubled automaker is now facing multiple subpoenas from the Securities and Exchange Commission after filing for bankruptcy protection back in June because it burned through too much cash trying to ramp up Ocean EV production.
After selling off its remaining fleet of vehicles and reaching settlements with creditors, the Manhattan Beach-based automaker is winding down its operations in bankruptcy. It intends to ask a bankruptcy judge to approve its liquidation plans later this week on October 9 in Delaware.
It all sounds like a pretty smooth deal until you realize the SEC isn’t a fan of Fisker’s plans to liquidate its assets. From Reuters:
The SEC said it objects the liquidation plan, citing reasons such as the lack of clarity on how and whether Fisker intends to preserve its corporate records
The SEC had sent multiple subpoenas to Fisker as part of the investigation, and may send more, the filing said, without disclosing specific details about the probe.
The regulator has requested information from Fisker about where the company’s books and records will be maintained after a settlement plan is adopted but the SEC has not received any response, it said.
“The Commission has outstanding investigative subpoenas and may have the need to request or subpoena additional documents in the future relating to its ongoing investigation,” the SEC said.
A version of this article originally appeared on Jalopnik’s The Morning Shift.