Mysterious financier asks judge to stop Canoo asset sale

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. Charles Garson, a UK-based investor with no obvious ties to the EV startup, offered $20 million for Canoo’s assets, according to a filing. A lawyer representing Garson filed a motion Friday to vacate the sale, claiming he presented a “far superior offer” to that of Canoo CEO Anthony Aquila, who bid just $4 million in cash for the assets. (Aquila’s bid also includes the extinguishment of around $11 million in loans Canoo owes to his own financial firm.) Garson allegedly was told by the bankruptcy trustee that his offer would be considered and he had until roughly the end of April to finalize the details, according to the filing. Two days after Garson claims he was told this, the trustee “moved forward with the Sale Hearing” and closed the sale of Canoo’s assets to Aquila. The sale ultimately closed on April 11. The bankru ... Read full article.