Posted by Alumni from TechCrunch
April 11, 2025
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. 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 he didn't want his client's silence to 'be held against us in the future.' The lawyer was representing ISSO LLC, an entity that Nikola's founder Trevor Milton has been using to evaluate a bid for his former company's assets. As part of that process, he was already barred by Nikola from touring its Arizona factory ' a decision that Judge Horan stood by last week. Fresh off a pardon from President Donald Trump, which helped him avoid serving a four-year prison sentence, it's possible that Milton could try to fight a $168 million arbitration award he was ordered to pay Nikola... learn more

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