Nikola Bankruptcy Trustee Sues 3i Firm Over $40 Million Payment

A trustee for Nikola Corp. sued investment firm 3i LP to recover nearly $40 million in payments made by the fallen electric truck maker ahead of its bankruptcy.

Nikola paid the New York-based creditor and investor $39.4 million to retire a larger unsecured $80 million note less than 90 days before the company filed for Chapter 11, according to a Monday complaint in the US Bankruptcy Court for the District of Delaware.

3i was fully reimbursed while other unsecured creditors faced significant losses and are projected to recover as little as 20% of the debt they’re owed, liquidating trustee Thomas ...