By Oct. 5, the public should know whether Lordstown Motors Corp. has a new owner. U.S. Bankruptcy Judge Mary F. Walrath on Aug. 8 approved a timetable of bidding and auction procedures related to the sale of the electrical-vehicle manufacturer’s assets, BusinessJournalDaily.com reported. Judge Walrath, of the U.S. Bankruptcy Court for the District of Delaware, has set an Oct. 5 deadline for a final sales hearing. Earlier this month, attorneys for Lordstown Motors told the court that the company has received “expressions of interest” from 13 entities that could potentially buy all or part of its assets or liquidate them. “Some of these proposals have big issues, and some are more promising,” Thomas E. Lauria, lead attorney for Lordstown Motors, told the court during a hearing Aug. 3. Judge Walrath also ordered a stalking-horse bid to be delivered no later than the close of business Aug. 24. Any party objecting to the bid would need to respond within five business days after the notice is filed.
