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Replies to post #76640 on Bollinger Innovations Inc (BINI)
01/02/26 4:07 PM
Well that’s not good…they couldn’t even be bothered to file an NT-10K.
01/11/26 12:07 PM
EV maker Bollinger Motors back in receivership as 20 trucks are seized
Portrait of Luke RamsethLuke Ramseth
The Detroit News
Jan. 7, 2026, 1:58 p.m. ET
The assets of failed electric truck maker Bollinger Motors are once again being overseen by a court-appointed manager as dozens of former employees, several parts suppliers and even a state agency say they are owed money by the Oak Park company that flamed out in November.
Bollinger Motors had briefly entered court-ordered receivership in the spring as it ran low on cash and faced a $10 million lawsuit from its founder, Robert Bollinger. But then parent company Mullen Automotive settled up with the founder and provided an infusion of cash into its subsidiary. Mullen's CEO David Michery promised to bring the high-profile EV startup back to full strength and pay off its debts.
That never happened. Last month, court records show an Ohio judge ordered the truck maker back into receivership as part of a lawsuit filed by Dana Inc. over $6.2 million the supplier says it's owed. “Dana has demonstrated by clear and convincing evidence that Bollinger is insolvent or is in imminent danger of insolvency,” Judge Joseph McNamara of Lucas County Common Pleas Court wrote in the Dec. 19 order.
Gene Kohut, after briefly serving as the company’s receiver last year, will again oversee the company’s assets for the “protection of Dana, Bollinger, and Bollinger's other creditors and stakeholders," the judge said.
Among those stakeholders are about 70 employees with open claims against Bollinger over unpaid wages or benefits. Former employees told The Detroit News this week they have still have not been paid for three weeks of work before the company abruptly shut its doors in November. Some are also seeking promised bonuses and retirement benefits.
The former employees' wage claims filed with the Michigan Department of Labor and Economic Opportunity remain open, spokesperson Keely Lovern said this week. She noted the recent receiver appointment and said that if Bollinger ultimately files for bankruptcy, the agency will "have to close the files and refer the claimants to file as a creditor in bankruptcy court."
The Michigan Economic Development Corp. confirmed this week it's still trying to claw back nearly $1 million it paid out to Bollinger as part of what was supposed to be a $3 million state grant approved in 2023.
Meanwhile, multiple parts suppliers and other vendors have also filed lawsuits in Oakland County claiming Bollinger never paid them for their products or services, in addition to the Dana case in Ohio.
The EV company still owes suppliers of electronics, wheel components, suspension systems, axles and more at least $14 million, a review of court records indicates. At least three have sought compensation directly from Bollinger's bank through a court-ordered process.
One supplier, Oak Park's Auto Metal Craft, secured a judgment for more than $530,000 against Bollinger, and late last year, an Oakland County judge approved a property seizure at the EV company's headquarters.
In December, a court officer seized 20 of Bollinger's new B4 electric work trucks, a 2021 Chevrolet commercial van, a 2023 Ford F-450 and two trailers, records show.
An attorney representing Bollinger in the Dana case didn't respond to a request for comment, and Bollinger did not appear to have representation in several Oakland County cases after its staff attorney departed. Lawyers for Dana and Auto Metal Craft didn't respond to requests for comment.
The collapse of one of Michigan’s highest-profile EV startups — which had touted both work truck models as well as rugged off-roaders — comes as the broader EV market struggles with slowing demand and fewer incentives. But it also comes amid alleged mismanagement and fraud by its parent company, which changed its name from Mullen to Bollinger Innovations last year, and its CEO, Michery, according to federal lawsuits filed by shareholders, as well as one filed by a former senior executive who had led the company's manufacturing and planning operations. The Nasdaq delisted Bollinger Innovations in October.
No one appeared to be working at the former Bollinger Motors headquarters on West 11 Mile last week, where Bollinger Innovations had planned to consolidate some of its workforce after shuttering a different office in Troy.
Eighteen new Bollinger B4 trucks sat in the lot, including two that were open with snow accumulating inside. The trucks originally retailed for more than $150,000 each, but were advertised online for as little as $89,000 this week. The company recently said it would no longer provide factory service and warranty support for dealers selling the vehicles.
Reached Tuesday, Michery said he was in a meeting and couldn't talk. He didn't respond to additional messages seeking comment.
Dana, the Ohio supplier who provided axle assemblies and other components for the electric trucks, said in its lawsuit that Bollinger had owed it money through much of last year, and that the company refused to pay even after getting a "substantial infusion of cash" following the first receivership stint.
Dana attorneys argued the independent oversight of a receiver was necessary to protect its assets, and that without one, "Bollinger will continue to be unjustly enriched through its scheme to never pay Dana." Bollinger's lawyer had opposed the receivership, saying that the supplier's case was “based entirely on vague, generalized allegations of insolvency, or imminent danger of insolvency.”
lramseth@detroitnews.com
@lramseth
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