Trevor Milton, the founder of Nikola who was recently pardoned after serving time for securities fraud, is pursuing the purchase of his former company's assets as it navigates Chapter 11 bankruptcy. Nikola filed for bankruptcy in February and aims to sell its business soon. Milton's efforts face obstacles, including the company's refusal to allow him access to inspect factory assets. His past involvement with Nikola, marred by fraud allegations and operational challenges, raises doubts about the future of the bid and the company's recovery.
Trevor Milton, recently pardoned after a securities fraud conviction, is attempting to buy Nikola's assets in bankruptcy proceedings, facing resistance from the company.
Nikola's request for added procedures in the asset sale process indicates their disapproval of Milton’s involvement, highlighting tension between him and the company.
The saga of Nikola, marked by fraud allegations against Milton and multiple issues with its operations, continues as the company navigates its Chapter 11 bankruptcy.
Milton's bid for Nikola assets comes amidst ongoing challenges for the company, including financial instability and management changes, raising questions about recovery prospects.
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