March 05, 2024
A Delaware bankruptcy judge confirmed the Chapter 11 plan of electric vehicle maker Lordstown Motors Corp. over the objection of the Office of the U.S. Trustee after finding that the debtor is eligible for a discharge of its liabilities.
January 30, 2024
Electric truckmaker Lordstown has asked a Delaware bankruptcy judge to give the Ohio company additional time to submit a Chapter 11 plan before anyone else is allowed to do so in its case, saying negotiations have been productive and that the extra time will allow the parties to resolve disputes over the plan.
January 02, 2024
The U.S. Trustee's Office asked a Delaware bankruptcy judge to reject Lordstown Motors Corp.'s Chapter 11 plan, saying the company is seeking a discharge of its liabilities despite its ineligibility due to its planned liquidation of essentially all assets.
November 14, 2023
Bankrupt electric vehicle maker Lordstown Motors Corp. has filed a proposed $3 million settlement with six C-suite executives to honor the severance agreements in their pre-bankruptcy contracts, contingent on them staying on to tie up the bankruptcy's loose ends.
November 08, 2023
Bankrupt electric vehicle maker Lordstown Motors has reached an agreement to allow the official committee of equity holders in its Chapter 11 case to participate in an adversary suit against Foxconn alleging Foxconn breached its contractual investment obligations.
October 31, 2023
Bankrupt electric truckmaker Lordstown Motors Corp. won approval of its Chapter 11 disclosure statement in Delaware on Tuesday, despite one remaining objection from a putative class of investors seeking more details about third-party releases.
October 18, 2023
Electric-truck maker Lordstown Motors Corp. will sell its assets for $10.2 million to company founder Stephen S. Burns after resolving objections from the U.S. government and receiving approval for the sale from a Delaware bankruptcy judge on Wednesday.
October 16, 2023
The U.S. government asked a Delaware bankruptcy judge to reject Lordstown Motors Corp.'s Chapter 11 sale, saying the proposed sale order attempts to improperly protect the buyer from government liabilities related to electric truck recalls.
October 11, 2023
A bankruptcy watchdog has objected to third-parties releases in the Chapter 11 plan of electric truck-maker Lordstown Motors Corp. because they could allow its directors — several of whom are defendants in securities lawsuits — to avoid litigation.
October 05, 2023
A Delaware bankruptcy judge on Thursday disqualified Richards Layton & Finger PA from representing Lordstown Motors Corp., saying the firm had a conflict of interest because it is also serving as defense counsel for former directors of the SPAC that took the electric truckmaker public in 2020.