Electric vehicle startup Harbinger has filed an objection to the bankruptcy asset sale of rival EV manufacturer Canoo, alleging misconduct in the process. The objection, submitted late Friday, claims Canoo concealed assets—particularly those acquired from the defunct EV company Arrival—and included items it may not legally own.
Harbinger, which gained access to the asset data room as a potential bidder, argues the sale process was skewed in favor of Canoo’s CEO, Anthony Aquila, who reached a purchase agreement in early March. Harbinger says the assets were neither broadly marketed nor properly appraised before being offered to Aquila.
The dispute adds to an already tense history between the companies. Harbinger was founded in 2021 by former Canoo employees. Canoo responded with a trade secrets lawsuit in 2022, which remains unresolved. Interestingly, Aquila’s asset purchase also includes a stake in any future settlement Canoo might win from Harbinger.
Harbinger now claims that a clause giving Aquila and the bankruptcy trustee approval rights over any such settlement might violate the Department of Justice’s Chapter 7 trustee guidelines.
Neither Canoo’s trustee Jeoffrey Burtch, nor lawyers for Canoo, Aquila, or Harbinger offered public comments.
