Nikola founder Trevor Milton wants to buy the bankrupt startup's assets

Core Points - Trevor Milton, the founder of Nikola, is attempting to acquire the assets of his former company, which is currently in Chapter 11 bankruptcy [1][2] - Nikola filed for bankruptcy protection in February and aims to sell its business by mid-April [2] - Milton's bid has faced resistance, including restrictions on inspecting assets at the company's factory [2][6] Group 1: Company Background - Nikola was founded by Trevor Milton in 2014 and went public in 2020 through a special purpose acquisition merger [3] - Milton stepped down from his position following fraud allegations and was convicted in 2022, receiving a four-year prison sentence in 2023 before being pardoned [3] Group 2: Bankruptcy Proceedings - Nikola has faced significant operational challenges, including battery fires and recalls, leading to its bankruptcy filing [4] - A Nevada entity, ISSO LLC, submitted a bid for Nikola's assets, but faced restrictions during the inspection process [4][5] - The court is set to hold an auction on April 7 to determine the highest bid for Nikola's assets [7]