Fisker Gets Bankruptcy Plan Approved After Last-Minute Deal

Fisker Inc., the fallen electric vehicle maker, received court approval of a bankruptcy plan that would repay its creditors through a liquidation.

Fisker received confirmation of the plan after it reached a last minute deal with American Lease LLC, the company that’s buying its fleet of electric vehicles. Under the deal, which was finalized in the minutes before a Friday afternoon hearing, American Lease will pay $500,000 per year for five years into the Fisker estate under a licensing agreement that would keep Fisker’s cloud online.

American Lease previously agreed to pay up to $46.25 million for a few thousand ...