Published on: 2025-04-29 17:23:31
A court hearing on the sale of bankrupt electric truck startup Nikola’s assets to Lucid Motors was going smoothly on Friday. No objections had been filed to the transaction, and Delaware bankruptcy judge Thomas Horan verbally approved it without hesitation. Until, that is, a lawyer piped up on the Zoom call toward the end of the hearing. The lawyer said his client “has some concerns” about the way the auction process was run. Those could be addressed at a later date, he said, but he stressed h
Keywords: milton nikola process said sale
Find related items on AmazonPublished on: 2025-05-02 03:30:27
Lucid Motors has announced that it's acquiring certain facilities in Arizona owned by Nikola, an EV truck maker that filed for Chapter 11 bankruptcy protection back in February. It will also offer more than 300 former Nikola employees jobs across its facilities in the state, including roles in engineering, software, assembly, vehicle testing and warehouse support. Lucid says that most of the space it's buying is comprised of state-of-the-art manufacturing and warehousing buildings. It's also get
Keywords: arizona bankruptcy facilities lucid nikola
Find related items on AmazonPublished on: 2025-05-02 14:06:15
EV startup Lucid Motors has emerged as a surprise winner in the bankruptcy auction for electric trucking company Nikola’s Arizona factory and other assets, according a late Thursday night court filing. Lucid committed around $30 million in cash and non-cash considerations in exchange for the factory, Nikola’s lease on its Phoenix headquarters, and “certain machinery, equipment and inventory,” according to the filing. As part of the deal, Lucid is planning to make offers to around 300 former Ni
Keywords: assets bankruptcy factory lucid nikola
Find related items on AmazonPublished on: 2025-05-10 03:46:23
Nikola founder Trevor Milton, who was recently pardoned after being convicted of securities fraud, is trying to buy the assets of his former company out of bankruptcy, according to new court filings and a person familiar with the matter. Nikola filed for Chapter 11 bankruptcy protection in February and has said it hopes to sell its business by the middle of this month. Milton’s bid was met with a frosty reception — filings show the company stopped him from personally inspecting the assets at it
Keywords: bankruptcy company isso milton nikola
Find related items on AmazonPublished on: 2025-05-24 00:49:55
Trevor Milton, the founder of bankrupt hydrogen trucking startup Nikola who was convicted of fraud, has been pardoned by President Trump, the White House confirmed to TechCrunch. Milton was convicted in October 2022 of one count of securities fraud and two counts of wire fraud related to claims he made about Nikola’s progress to investors. He was sentenced to four years in prison in December 2023. He has been out on a $100 million bond while he appealed that sentence. The pardon comes just a f
Keywords: company convicted fraud milton nikola
Find related items on AmazonPublished on: 2025-07-12 03:07:07
Electric trucking startup Nikola is hoping to sell what remains of its whole business as early as April, lawyers for the company told a judge Thursday during the first hearing of its bankruptcy case in Delaware. The lawyers claimed Nikola already has at least three interested buyers (who they did not name) and that the company hopes to solicit other bids, with a submission deadline likely in late March. If Nikola can’t find a buyer willing to take on the whole business, the company will pivot
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