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Lordstown Motors ex-CEO approved to buy company assets for $10 million

Electric vehicle company Lordstown Motors received U.S. bankruptcy court approval Wednesday to sell its manufacturing assets to a new company affiliated with its founder and former CEO Stephen Burns for $10.2 million. LAS Capital, majority-owned by Burns, will acquire Lordstown's intellectual property, business records, and machinery including assembly lines for electric vehicle motors and batteries. U.S. Bankruptcy Judge Mary Walrath approved the sale at a court hearing in Wilmington, Delaware, saying it was the best available offer. ....

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Lordstown Motors ex-CEO approved to buy company assets for $10 million

Electric vehicle company Lordstown Motors received U.S. bankruptcy court approval Wednesday to sell its manufacturing assets to a new company affiliated with its founder and former CEO Stephen Burns for $10.2 million. LAS Capital, majority-owned by Burns, will acquire Lordstown's intellectual property, business records, and machinery including assembly lines for electric vehicle motors and batteries. U.S. Bankruptcy Judge Mary Walrath approved the sale at a court hearing in Wilmington, Delaware, saying it was the best available offer. ....

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Vesttoo case: Time to "stop litigating and start cooperating" says bankruptcy judge

The judge in Vesttoo's Chapter 11 bankruptcy case has called for all sides to "stop litigating and start cooperating" to find a common ground on key ....

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Vesttoo may be Bermuda's 'largest insurance fraud' ever - The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Vesttoo may be Bermuda's 'largest insurance fraud' ever - The Royal Gazette | Bermuda News, Business, Sports, Events, & Community
royalgazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from royalgazette.com Daily Mail and Mail on Sunday newspapers.

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Lordstown hopeful to find buyer for all or some parts of business

The company filed for bankruptcy protection in June and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan's Foxconn. "We expect to have one-or-more purchasers," Lauria told Bloomberg. A U.S. judge on Monday ruled out Foxconn's bid to curtail Lordstown's efforts at seeking bankruptcy protection in the U.S., marking a shot in the arm for the troubled EV manufacturer embroiled in legal disputes. ....

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