Well known lithium-ion battery manufacturer A123 Systems (which supplied batteries for the Fisker Karma) went the unfortunate bankruptcy route last year. It is now about to fully pull itself out of that, with the help of China’s Wanxiang (which is purchasing the company), a plan to pay off all its debt. The company has won court approval to officially exit bankruptcy following approval of the plan by the company’s creditors.
To get out of bankruptcy and pay off its debt, it is basically going to sell all its assets. In its rebirth, the company’s name is changing to B456 Systems.