WILMINGTON, Del. (AP) — A Delaware bankruptcy judge has set a Feb. 12 auction date for Fisker Automotive , with two rival groups sharing initial bidding status for the remaining assets of the failed electric-vehicle maker. The bid procedures approved Friday clear the way for an auction starting with competing bids by Hybrid Technology, led by Hong Kong billionaire Richard Li , and Chinese auto parts conglomerate Wanxiang Group Corp. Hybrid has offered $30 million in cash to go along with a credit bid of $25 million in debt it would cancel as Fisker's senior secured lender. Wanxiang has offered $35.7 million in cash and a 20 percent stake for creditors in a reorganized Fisker. Wanxiang's bid also allows for the possibility of creditors recovering more money through lawsuits against Fisker, Hybrid and other parties.
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