Lordstown Motors has been allowed by the Delaware Bankruptcy Court to sell some of its assets to one of the company's founders, Steve Burns, in a filing on Wednesday. 

Burns had filed the motion to purchase those assets, worth a total of $10,200,000, in late September during the ongoing bankruptcy proceedings of LMC.

The list of assets to be sold is extensive, but includes all inventory and supplies of LMC, LMC property leases, rights to LMC's designs, and the intellectual property relevant to the design, production, and sale of LMC vehicles, all of LMC's machinery and equipment, all books and records, and a host of other assets.

Excluded from the sale are LMC's cash on hand, tax records, stock and equity interests, and litigation rights.

Burns had originally resigned from LMC in 2021 after the company misrepresented demand for its trucks and other key financial information in its reports and disclosures.