Fisker 'Faces Axe' If Insurer Fails To Pay

Remember Superstorm Sandy? While it seems like a distant memory now (in fact it was just over two months ago) Sandy's wrath was one of unmeasurable cost to life, economy, bildings and...cars.

One of the hardest hit manufacturers was Fisker. It lost 338 Karma models at an estimated cost of $33m (£20.3m). And that's pretty bad news for a car maker that was only founded in August 2007.

But Fisker now faces an even tougher challenge, and one that will be decided in court. The reason? Fisker's XL Group Plc insurer is refusing to cough up the moolah despite the manufacturer being entitled to a maximum $100m in such eventualities.

Read Fisker's summons, complaints and exhibits against XL Group

XL's argument is that the cars - which were parked at a shipping facility in New Jersey - were in 'transit' at the time of Sandy's brutal attack, which would limit the company's policy with XL.

Fisker's future now rests in the hands of the New York State Supreme Court.