Aug 28 (Reuters) – Lordstown Motors is currently working on a debt repayment strategy and expresses optimism about finding potential buyers in Chapter 11 for either its entire business or specific parts, according to the electric truck manufacturer’s attorney Thomas Lauria, as reported by Bloomberg News. The company filed for bankruptcy protection in June after failing to resolve a dispute over a promised investment from Foxconn, a Taiwanese company.

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Attorney Thomas Lauria mentioned, “We expect to have one or more purchasers,” indicating the company’s confidence in its ability to attract buyers in the bankruptcy process.

Despite Foxconn’s attempt to curtail Lordstown’s bankruptcy protection efforts in the U.S., Judge Mary Walrath ruled against it, providing a boost to the troubled electric vehicle manufacturer. Foxconn alleged that Lordstown breached the investment agreement when its stock price fell below $1.

Furthermore, several investor groups have filed claims against Lordstown, accusing the company of misleading consumers and investors. The U.S. Securities and Exchange Commission (SEC) is also investigating these claims and engaging in confidential settlement talks with the regulator.

Lordstown Motors and Foxconn have not yet responded to Reuters’ request

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