Filing Alert: Nikola Chapter 11
Nikola Files Chapter 11 in District of Delaware
Nikola Corporation, a Phoenix, AZ-based developer of hydrogen-electric and battery-electric trucks, filed for Chapter 11 protection on Feb. 19 in the U.S. Bankruptcy Court for the District of Delaware.
Nikola filed alongside affiliates Nikola Properties, LLC, Nikola Subsidiary Corporation, Nikola Motor Company LLC, Nikola Energy Company LLC, Nikola Powersports LLC, Free Form Factory Inc., Nikola H2 2081 W Placentia Lane LLC, 4141 E Broadway Road LLC, and Nikola Desert Logistics LLC.
The company reports $878.1 million in assets and $469 million in liabilities⁽¹⁾. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-10258.
⁽¹⁾ Excludes certain contingent and unliquidated litigation claims.
Top Unsecured Claims
Key Parties
Bankruptcy Co-Counsel:
- M. Blake Cleary
- Potter Anderson & Corroon LLP
- Email: bcleary@potteranderson.com
Bankruptcy Co-Counsel:
- Pillsbury Winthrop Shaw Pittman LLP
Financial Advisor:
- M3 Advisory Partners, LP
Investment Banker:
- Houlihan Lokey Capital, Inc.
Claims Agent:
- Epiq Corporate Restructuring, LLC
Signatories:
- Stephen J. Girsky – President & CEO
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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