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The judge in Canoo's bankruptcy case has blocked an attempt by a mysterious financier to disrupt the sale of the EV startup's assets.
A mysterious investor out of London has asked a bankruptcy judge in Delaware to stop the sale of EV startup Canoo's assets to its CEO, calling it a “flawed” process.
The sale of bankrupt EV startup Canoo's assets to its CEO has been approved by the judge overseeing the case. After evaluating a number of limited objections to the sale, Judge Brendan Shannon said in a hearing Wednesday he believes the process was fair and that no one else but Canoo CEO Anthony Aquila made a bid.
The sale of bankrupt EV startup Canoo's assets to its CEO has been okayed by the judge overseeing the case. After evaluating a number of limited objections to the sale, Judge Brendan Shannon said in a hearing Wednesday he believes the process was fair, and that no one else but Canoo CEO Anthony Aquila made a bid.
Electric trucking company Harbinger has filed an objection to the sale of Canoo's assets to its CEO, potentially throwing a wrench into the two-month-old bankruptcy case.
The CEO of Canoo is buying nearly all of the bankrupt EV startup's assets, according to a court filing.
GOEV's story serves as a cautionary tale for other startups navigating the complex and competitive EV industry.
Canoo said on Friday it would file for Chapter 7 bankruptcy and cease operations, effective immediately.
Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will “cease operations immediately.” The company is liquidating its assets in a Chapter 7 proceeding in the Delaware Bankruptcy Court.
JUSTIN, Texas, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Canoo Inc. (Nasdaq: GOEV), (the "Company"), a high-tech advanced mobility and energy company, today announced that it has filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code. The filing, made with the U.S. Bankruptcy Court for Delaware, will result in the federal appointment of a Bankruptcy Trustee to oversee the liquidation of the Company's assets and the distribution of proceeds to creditors.