Core Viewpoint - The judge in Canoo's bankruptcy case has blocked an attempt by financier Charles Garson to disrupt the sale of the EV startup's assets, ruling that he lacked standing to challenge the sale to Canoo's CEO, Anthony Aquila [1][2][8]. Group 1: Legal Proceedings - Judge Brendan Linehan Shannon ruled that Charles Garson, a UK-based financier, did not have standing to request the sale to Canoo's CEO be vacated, as he missed the deadline to submit a formal bid [2][8]. - Garson claimed he was willing to pay up to $20 million for Canoo's assets but failed to clarify the source of his funding, raising concerns from the bankruptcy trustee about potential issues with the Committee on Foreign Investment in the United States [2][4]. - The last challenge to the asset sale comes from Harbinger Motors, a startup formed by former Canoo employees, which has appealed the judge's denial of their objection to the sale [3]. Group 2: Arguments and Perspectives - Garson's lawyer framed the situation as a "David versus Goliath" matter, arguing that Garson believed he had until the end of April to formalize his bid based on conversations with the bankruptcy trustee [4]. - The bankruptcy trustee's lawyer, Mark Felger, countered that the sale process was fair and that the negotiations were conducted properly, emphasizing that the cost of maintaining Canoo's assets was too high [5][7]. - Judge Shannon expressed sympathy for Garson's frustration but noted that he did not fully understand the complex process and requirements to engage in the bidding [9]. Group 3: Outcome and Reactions - Judge Shannon ruled against Garson, stating he lacked standing as he was not owed any money by Canoo and did not submit a formal bid before the deadline [8][9]. - Garson acknowledged the court's decision and congratulated Aquila, expressing disappointment at not being able to participate in the bidding process [10].
Mystery investor's attempt to stop Canoo asset sale shot down by judge