NEW YORK, Oct 11 (Reuters) - Electric vehicle startup

Fisker ( FSRNQ ) received court approval of its bankruptcy liquidation

plan on Friday, following last-minute negotiations to preserve

the company's $46 million sale of its remaining inventory of

about 3,000 Ocean SUVs.

U.S. Bankruptcy Judge Thomas Horan signed off on Fisker's ( FSRNQ )

bankruptcy plan at a court hearing in Wilmington, Delaware,

clearing the company to repay creditors with assets remaining

after it sold off its vehicle fleet.

Fisker ( FSRNQ ) filed for bankruptcy in June, after failing to reach

a partnership with Nissan ( NSANF ) for production of its

electric vehicles. While those talks were ongoing, Fisker's ( FSRNQ ) cash

flow problems forced it pause vehicle production and lay off

staff.

Fisker ( FSRNQ ) ultimately chose to liquidate its operations in

bankruptcy, selling off its remaining vehicle fleet to buyer

American Lease and transferring its intellectual property to

creditors.

The vehicle fleet sale hit a last-minute snag this week,

after American Lease realized that Fisker ( FSRNQ ) would not be able to

transfer essential data and support services to new servers

operated by the buyer.

Without the data transfer, the vehicle fleet would be cut

off from essential services such as updating vehicle software,

reviewing diagnostic data, and allowing drivers to remotely

access their vehicles.

American Lease resolved the dispute by agreeing to pay an

additional $2.5 million over five years for future tech support

services. The deal also will benefit other Fisker Ocean owners,

who had similarly expressed concern about what would happen to

their vehicles after Fisker's ( FSRNQ ) servers shut down, attorneys said

in court on Friday.

The hyper-competitive EV market has seen several companies,

including Proterra, Lordstown and Electric Last Mile Solutions,

file for bankruptcy in the past two years as they grappled with

weakening demand, fundraising hurdles and operational challenges

from global supply chain issues.