The Washington Free Beacon
1/2/2013
The bankrupt electric car battery manufacturer A123 Systems Inc. is looking to hire a lobbying firm to protect the company’s sale to China’s Wanxiang Group, according to Dow Jones…
…A123 Systems filed for bankruptcy in October after receiving $133 million of a nearly $250 million grant from the federal government. Additionally, the company received $1 million from the government the same day it filed Chapter 11.
Critics of the sale to Wanxiang say it undermines national security and President Barack Obama’s green energy goals. The Chinese company is set to buy A123’s assets for $256.6 million.
If the bankruptcy judge approves the employment of Capitol Counsel LLC, the firm will be paid $75,000 plus expense reimbursement.
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