Lordstown Motors Corp. has received the go ahead from a bankruptcy court judge to begin soliciting votes for its reorganization plan.LORDSTOWN, Ohio - Lordstown Motors Corp. on Tuesday got the green light from a Delaware bankruptcy court judge to begin soliciting votes for the electric vehicle developer’s plan of bankruptcy reorganization.
U.S. Bankruptcy Court Judge Mary Walrath approved Lordstown Motors’ disclosure statement — the document that contains detailed information to enable a creditor to make an informed decision about the debtor’s plan of reorganization — during a Tuesday morning hearing. Lordstown Motors and its attorneys will use the disclosure statement to solicit votes from creditors and shareholders to approve or reject the company’s plan to emerge from bankruptcy court, likely late this year or early next year.Insert text and paragraphs for the story hereIf you purchase a product or register for an account through a link on our site, we may receive compensation.