A federal judge has blocked Hong Kong billionaire Richard Li’s emergency motion to overturn a Delaware bankruptcy court decision limiting how much he could bid for defunct hybrid-sports-car manufacturer Fisker Automotive Holdings Inc. The judge ruled that the bankruptcy court’s decision to limit the bids was an interlocutory order, not a final judgment, and, therefore, subject to a stricter standard that Li did not meet.
“Interfering with the bankruptcy court’s decision-making at this early stage is more likely to impede, rather than hasten, resolution of the cases by delaying, for instance, the bankruptcy court’s ability to resolve the issues remaining,” said U.S. District Chief Judge Gregory M. Sleet of the District of Delaware in In re Fisker Automotive Holdings.
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