Although its Israel-based electric car company had already filed bankruptcy in its home country, Better Place, Inc., the U.S. parent of the foreign debtor, filed for protection under chapter 15 of the Bankruptcy Code with the United States Bankruptcy Court for the District of Delaware earlier this summer, in the hopes of obtaining protection of its U.S. assets while the foreign bankruptcy was being administered.

Media reports re A123 System’s bankruptcy confirm that A123′s intellectual property is an important part throughout the lifecycle of a struggling company. While Johnson Controls was an initial suitor for A123′s assets, the Wanxiang Group is also now inserting itself into the bankruptcy proceeding.