Canoo Inc. Class A Common Stock

GOEV

Market cap $5.36M

The judge in Canoo's bankruptcy case has blocked an attempt by a mysterious financier to disrupt the sale of the EV startup's assets.

A mysterious investor out of London has asked a bankruptcy judge in Delaware to stop the sale of EV startup Canoo's assets to its CEO, calling it a “flawed” process.

The sale of bankrupt EV startup Canoo's assets to its CEO has been approved by the judge overseeing the case. After evaluating a number of limited objections to the sale, Judge Brendan Shannon said in a hearing Wednesday he believes the process was fair and that no one else but Canoo CEO Anthony Aquila made a bid.

The sale of bankrupt EV startup Canoo's assets to its CEO has been okayed by the judge overseeing the case. After evaluating a number of limited objections to the sale, Judge Brendan Shannon said in a hearing Wednesday he believes the process was fair, and that no one else but Canoo CEO Anthony Aquila made a bid.

Electric trucking company Harbinger has filed an objection to the sale of Canoo's assets to its CEO, potentially throwing a wrench into the two-month-old bankruptcy case.

Corporate America is having a mixed performance this year as concerns about technology companies' valuations remain. Stocks have also reacted to the highly hawkish actions of the Federal Reserve and Donald Trump's tariffs.

The CEO of Canoo is buying nearly all of the bankrupt EV startup's assets, according to a court filing.

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GOEV's story serves as a cautionary tale for other startups navigating the complex and competitive EV industry.

Canoo said on Friday it would file for Chapter 7 bankruptcy and cease operations, effective immediately.