"Chinese auto parts maker vows to top Johnson deal for A123" ($AONE)

This is so strange:

"My client feels it has been left at the altar a couple of times," Guzina, a lawyer for law firm Sidley Austin, which represents Wanxiang, said in U.S. Bankruptcy Court in Wilmington.

Why did AONE go BK? They could have done the Johnson Controls deal, settled with noteholders for cash and a majority of the equity, and stayed alive.