news 
A federal judge has cleared the path for Canoo’s CEO to purchase the company’s assets following bankruptcy proceedings. In a hearing yesterday, Judge Brendan Shannon ruled that Anthony Aquila, CEO of Canoo, may acquire most of the electric vehicle (EV) startup’s assets for approximately $4 million in cash.
The sale is subject to approval from the Committee on Foreign Investment in the United States (CFIUS), but it appears likely to move forward. The decision follows a series of limited objections raised by other parties involved in the bankruptcy proceedings, including Harbinger, an electric truck startup, and various companies with outstanding balances or equipment held by Canoo.
Harbinger had initially objected to the sale, citing concerns that Aquila’s approval over any potential settlement in the lawsuit against it would create a conflict of interest. However, Judge Shannon disagreed, stating that negotiations between Aquila and Canoo took weeks and involved multiple offers and counteroffers, demonstrating good faith efforts by the trustee overseeing the bankruptcy.
Furthermore, the judge deemed Aquila’s relationship with the company properly disclosed, thus eliminating concerns over potential bias in the sale process. Additionally, most objections were raised by companies seeking to resolve outstanding balances or reclaim equipment held by Canoo, which Felger, a lawyer for Canoo, assured the court would be resolved in due time.
Judge Shannon’s decision paves the way for Aquila to acquire the majority of Canoo’s assets, marking another significant milestone in the bankruptcy proceedings.
Source: https://techcrunch.com/2025/04/10/canoo-ceo-can-buy-bankrupt-ev-startups-assets-judge-rules/
