EV truck maker Harbinger accuses Canoo of hiding assets in bankruptcy sale

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. Harbinger’s objection, filed late Friday, accuses Canoo of hiding certain assets from the sale process, including what the startup purchased from another bankrupt EV company, Arrival. It also accuses Canoo of listing assets that Harbinger believes the startup did not actually own (though it did not specify which ones). Harbinger said it came to this determination after it considered buying the assets and gained access to the virtual data room for potential bidders. What’s more, Harbinger says the sale process has so far “unfairly favored Mr. Aquila,” referring to Canoo’s CEO Anthony Aquila, who reached an agreement to buy the assets in early March. Harbinger claims the bankruptcy trustee accepted Aquila’s offer without widely marketing the sale of the assets or obtaining an appraisal. The objection is the latest tw ... Read full article.