Bankruptcy News Updates

GovernmentBusinessTechnologyEquipmentFuel

Nikola’s Collapse Puts SEC’s $80 Million Claim at Risk

The SEC ranked No. 1 on the roster of largest unsecured creditors when Nikola, a failed maker of EV trucks, sought court protection on Feb. 19, with the regulator owed about $80 million.

February 20, 2025
BusinessEquipmentFor-HireTop 100

Proficient Q4 Revenue Slumps 15.9% on Weaker Margins

Proficient — the No. 4-ranked auto transporter — expects industry dynamics to improve in 2025, including through a reduction in carrier capacity due to the travails of Jack Cooper Holdings.

February 14, 2025
BusinessEquipmentLogisticsFor-HireTop 100

Auto Hauler Jack Cooper Shuts Down After Losing Ford, GM

The dominoes started to topple when automaker Ford decided in January to end its relationship with Jack Cooper, bringing the curtain down on an approximately 40-year relationship.

February 14, 2025
BusinessEquipment

Wheel OEM Accuride’s US Operations Emerging From Bankruptcy

Accuride’s U.S. and Canadian businesses filed for Chapter 11 bankruptcy protection in October with liabilities of between $500 million and $1 billion.

February 10, 2025
GovernmentBusinessTechnologyEquipmentFuel

Northvolt’s Bankruptcy Deals $531M Blow to Swedish Investors

Sweden’s state-owned pension investors, collectively known as the AP Funds, have fully written down their entire investment in bankrupt battery maker Northvolt AB.

February 10, 2025
GovernmentBusinessTechnology

Nikola Considers Bankruptcy, Capping EV Maker’s Wild Ride

Nikola Corp. is working with a law firm and financial advisers to prepare a potential Chapter 11 filing, which would protect it from creditors amid a cash crunch.

February 7, 2025
GovernmentBusinessTechnology

Northvolt Gets New Extension to Submit Documents to US Court

Swedish battery maker Northvolt AB has been granted a second deadline extension to file schedules and statements with a bankruptcy court in the U.S., according to a ruling on Jan. 15.

January 16, 2025
GovernmentBusinessTechnology

Northvolt Sells Its Stake in Recycling JV to Norsk Hydro

Bankrupt battery maker Northvolt AB agreed to sell its remaining shares in a recycling venture to Norsk Hydro ASA as it continues to slim down operations amid a Chapter 11 process in the U.S.

January 13, 2025
GovernmentBusinessTechnology

Northvolt Owners Back Plan to Keep Making Batteries

Northvolt AB shareholders approved the bankrupt electric vehicle supplier’s plan to keep building battery cells while it seeks new funding to restructure under Chapter 11 protection.

January 8, 2025
BusinessLogisticsFor-Hire

Yellow, Pension Funds' Claims Battle to Extend Through Q1

Oral arguments on dispositive motions related to the claims by 11 pension funds are now set to take place at a Jan. 28 hearing at the Delaware Bankruptcy Court.

December 17, 2024