GLONGHUI, Oct. 12 | According to Reuters, electric vehicle startup Fisker received court approval for its bankruptcy and liquidation plan on Friday. US bankruptcy judge Thomas Horan approved Fisker's bankruptcy plan during a court hearing in Wilmington, Delaware, and allowed the company to repay creditors with surplus assets after selling its fleet. Fisker filed for bankruptcy in June due to a failure to cooperate with Nissan on the production of its electric vehicles. While negotiations were ongoing, Fisker's cash flow problems forced it to suspend car production and lay off workers. Fisker ultimately chose to go bankrupt and liquidate its business, sell its remaining car inventory to American Lease, and transfer its intellectual property rights to creditors. American Lease agreed to pay an additional $2.5 million over the next five years for future technical support services.