Nikola’s Collapse Puts SEC’s $80 Million Claim at Risk

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Nikola Corp.’s bankruptcy included an unusual leader atop the customary list of biggest potential losers — the Securities and Exchange Commission — and the agency’s chances of getting its claim fully paid might be dim.

The SEC ranked No. 1 on the roster of largest unsecured creditors when Nikola, a failed maker of EV trucks, sought court protection on Feb…