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    lithium investing

    Judge Approves Bankruptcy Financing For A123

    Investing News Network
    Nov. 06, 2012 10:54AM PST
    Battery Metals

    CNBC reported a Chinese company will provide bankruptcy financing for battery maker A123 Systems (NASDAQ:AONE) after a Delaware judge approved the move.

    CNBC reported a Chinese company will provide bankruptcy financing for battery maker A123 Systems (NASDAQ:AONE) after a Delaware judge approved the move.

    As quoted in the market news:

    The judge gave interim approval Monday for Wanxiang (wang-SHIN) Group to provide $50 million in financing to A123, which filed for bankruptcy protection last month.

    A123 had said Milwaukee-based auto-parts maker Johnson Controls Inc. had agreed to buy its automotive assets for $125 million. JCI, however, ceded the role bankruptcy lender role to Wanxiang, which also is interested in bidding for A123′s assets.

    Click here to read the full CNBC report.

    lithium investingnasdaq:aone
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