LION ELECTRIC FILES APPLICATION FOR CREDITOR PROTECTION UNDER THE CCAA
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2024
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Source: Newsfilter
Company's Financial Situation: The Lion Electric Company has applied for creditor protection under the Companies' Creditors Arrangement Act (CCAA) in Quebec and intends to seek recognition of these proceedings in the U.S. under Chapter 15 of the Bankruptcy Code, following financial difficulties and the expiry of a covenant relief period.
Trading Suspension: Trading of Lion Electric's shares on the Toronto Stock Exchange and New York Stock Exchange has been halted, with the TSX initiating a delisting review due to the company's current financial status and restructuring efforts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
