Nikola Corporation

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Case Number:

1:25-bk-10258

Court:

Delaware

Nature of Suit:

Firms

Companies

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August 26, 2025
SEC Says Nikola's Ch. 11 Plan Mischaracterizes $80M Penalty

The U.S. Securities and Exchange Commission objected to the Chapter 11 plan of electric-truck maker Nikola Corp. on Tuesday, saying the plan improperly treats the agency's $80 million civil penalty claim as if it were a damages claim behind other unsecured creditors in the priority scheme.
August 25, 2025
Nikola Founder Cites Trump Pardon, Claire's Gets DIP Funds

Nikola’s founder and ex-CEO said his claim in the company’s Chapter 11 cannot be subordinated, while Clare’s got interim approval for bankruptcy financing and Avon secured a judge’s permission to implement its reorganization plan.
August 21, 2025
Nikola Ch. 11 Plan Ignores Trump Pardon, Founder Says

Trevor Milton, the founder and former CEO of electric-truck maker Nikola who was convicted of securities fraud, has asked the Delaware bankruptcy court not to allow the company to subordinate his $69 million claim, saying its Chapter 11 plan doesn't accurately account for the full presidential pardon he received earlier this year.
August 15, 2025
What's Happening In Bankruptcy Court This Coming Week

In the coming week, bankruptcy judges are set to hear issues including a Brazilian telecommunications company's proposed jump from Chapter 15 to Chapter 11, final approval of Genesis Healthcare's postpetition financing, and a settlement proposed by electric-vehicle maker Nikola Corp.
August 14, 2025
Under The Radar: Bankruptcy News You May Have Missed

Co-owners of a rice mill accused the CEO of having exceeded his authority by starting bankruptcy. Bankrupt oil company Cox Operating's Chapter 7 trustee asked a Colorado federal court to weigh in on a property. And electric vehicle maker Nikola asked a bankruptcy court to approve a settlement.
August 04, 2025
Nikola Seeks To Erase $13M Securities Class Action Claim

Bankrupt electric vehicle maker Nikola Corp. urged a Delaware bankruptcy judge to approve a plan to demote $13 million in claims connected to a securities class action, arguing the court shouldn't let investors convert their equity losses into creditor claims in Chapter 11.
July 31, 2025
Under The Radar: Bankruptcy News You May Have Missed

The U.S. Trustee's Office objected to the disclosure statement filed by Flagship Resort Development Corp., arguing it lacks details on third-party releases in its Chapter 11 liquidation plan. Guardian Elder Care's creditors committee opposed extending the company's exclusivity to file a Chapter 11 plan. Nikola Corp. asked to subordinate the SEC's $125 million penalty, calling it a lower-priority debt.
July 18, 2025
What's Happening In Bankruptcy Court This Coming Week

Bankruptcy judges will guide hearings in the coming days that concern issues including Nikola's Chapter 11 plan and disclosures, a youth mental health provider's plans for a real estate sale, and Rite Aid's proposed lease sales.
June 18, 2025
Under The Radar: Bankruptcy News You May Have Missed

The Roman Catholic diocese in Buffalo, New York, was ordered to use only a share of proceeds from the sale of a seminary building for a settlement with sexual abuse survivors. Meanwhile, a charter school funding company asked a bankruptcy judge to approve its speedy Chapter 11 sale process. And bankrupt electric-vehicle maker Nikola Corp. requested more time to draft its liquidation plan.
May 27, 2025
Nikola Creditors Ask To Examine Founder Over $100M Award

The creditors committee in Nikola Corp.'s Chapter 11 case has asked a Delaware bankruptcy court for permission to conduct discovery on the company's founder to investigate whether he is dissipating personal assets that should be used to satisfy a $100 million arbitration award owed to the debtor.