Mysterious financier asks judge to stop Canoo asset sale

A mysterious investor from London asked the bankruptcy judge in Delaware to stop sale EV startup Canoo’s property to his executive director, calling him a “wrong” procedure.

Charles Garson, an investor based in the UK, without obvious connections with EV startup, offered $ 20 million for Cano’s assets, According to the application. A lawyer who represented Garson on Friday submitted a proposal to leave sales, claiming that he presented a “far superior offer” that Canoo’s Anthony Aquile, who offered only four million dollars for property in cash. (Aquila’s offer also includes quenching about $ 11 million loans that Canoo owes his own financial company.)

Garson allegedly the bankruptcy commissioner said his offer would be considered, and he completed the completion of the detail by the end of April, according to the application submitted. Two days after Garson claims he was told, the guardian “moved forward with hearing for sale” and closed the sale of Canoo property in Aquil. The sale was ultimately closed on April 11. The bankruptcy commissioner did not respond to the commentary request.

Garson is not alone in protest against sale. Harbinger Motors, a startup EV carrier created by numerous employees of the former Canoa, complained sales before it was completed. The bankruptcy judge canceled that complaint; Harbinger filed an appeal.

Very little information is available on Garson on the network. His LinkedIn profile says he is in London and included in real estate investments. Its is listed as the director of a real estate investment company called Garland Holdings Limited in the UK, according to Business Register of Country.

The abandonment request does not explain why Garson is interested in Canoo or whether other investors are included. Garson made a statement in support of a proposal for emptying, which includes 23 exhibitions. But all these documents were submitted under the seal. The Garson lawyer did not immediately respond to the comment request.

“[Garson] He believed that there was more than enough time to submit his superior offer based on communication with the commissioner and his advisor. In relying on such communications, Movant did not complain about sales or formally
Send a competitive offer as long as they continue to complete his offer and seek clarification of the commissioner ”according to the application.

“Despite the apparently superior offer that practically cast him, the guardian decided to ask for a court approval of the transaction with Aquila, he writes in the submission. Aquil’s lawyer did not respond to the comment request.

As many as eight sides signed NDAS and assessed the property of Canoo before sale, lawyer for startup bankruptcy discovered earlier this month. He said that only a few of them approached the offer, including one group for which the bankruptcy commissioner said he could cause concern for the Committee on Foreign Investment in the United States because of their (unspecified) “foreign ownership”. It is not clear whether Garson’s offer is what the commissioner referred to.