Lion Electric files for creditor protection under CCAA
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2024
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Company's Financial Restructuring: The Lion Electric Company has applied for creditor protection under the Companies' Creditors Arrangement Act in Quebec and intends to seek recognition of these proceedings in the U.S. under Chapter 15 of the Bankruptcy Code, while also initiating a formal sale and investment solicitation process.
Impact on Trading and Operations: Trading of the company's shares has been halted on both the Toronto Stock Exchange and the New York Stock Exchange, with the TSX conducting a delisting review, while management will continue day-to-day operations under the oversight of Deloitte Restructuring Inc. during the restructuring process.
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.
