LORDSTOWN, Ohio (WKBN) — A bankruptcy court in Delaware Wednesday approved the sale of Lordstown Motors assets to the company’s founder, Steve Burns.
The approval from the U.S. Bankruptcy Court in Delaware comes after Burns filed a motion Sept. 29 with the court to purchase $10 million of the company’s assets.
Among the assets to be purchased are the design, production and sale of vehicles produced by the plant.
Burns resigned two years ago because of a dispute over the accuracy of the company’s financial statements.
The company filed Chapter 11 protection June 27.
