receivership

After a series of financial setbacks followed by an Electrek exposé revealing the failed Metacycle electric motorcycle project, e-bike maker SONDORS has appeared to enter receivership. The search is now on for a buyer who can scoop up the company and its assets. Electrek has reviewed documents sent out by Rock Creek Financial Advisors (RCFA) indicating that an RFCA representative has been appointed as receiver of SONDORS, Inc, and that the company is being offered for sale along with its assets.…

Lightning eMotors, which designs and manufactures electric vehicles for commercial and government fleets, agreed Thursday to have the Loveland-based company placed into receivership, signaling its default on its loans and financing. The company filed its agreement with the U.S. Securities and Exchange Commission. The company’s assets will be sold to pay its debts. The action follows a lawsuit by Cupola Infrastructure Income Fund, which sought to have a receiver appointed. The Greenwood Village company said it loaned…

Ssangyong Motor Company said it had exited 18 months of court receivership this week after the Seoul Bankruptcy Court accepted a bid from a consortium led by local chemical and steel company KG Group to acquire the debt laden automaker in August. Ssangyong Motor entered court receivership in April 2021 after its Indian parent Mahindra & Mahindra failed to find a buyer for the company and declined to invest further funds…