News Summary

Electric trucking company Harbinger has raised an objection to the sale of Canoo’s assets to its CEO, Anthony Aquila, amidst Canoo’s bankruptcy proceedings. Harbinger accuses Canoo of concealing certain assets during the sale process, including acquisitions from another bankrupt EV company, Arrival. The dispute further alleges that the sale process disproportionately favored Aquila, as the bankruptcy trustee accepted his offer without proper marketing or asset appraisal. Harbinger, founded by former Canoo employees, is embroiled in a trade secret lawsuit with Canoo, complicating the bankruptcy case. The purchase agreement involves Aquila gaining interest in any settlement Harbinger might pay to Canoo, which Harbinger argues could breach Chapter 7 trustee guidelines.