Daily News: May 22, 2013

A123 Wins Bankruptcy Exit Plan Approval Under New Name

Bloomberg reported that the bankrupt electric-car battery maker, formerly known as A123 Systems, won court approval of its bankruptcy exit plan to pay creditors from the proceeds of selling virtually all of its assets.

The company, now known as B456 Systems, expects to emerge from bankruptcy court protection in about three to four weeks, according to Bloomberg.

To read the entire Bloomberg story, click here.

Previously on abfjournal.com:

Wanxiang’s A123 Systems Acquires Non-Government Assets, Wednesday, January 30, 2013