LION ELECTRIC FILES APPLICATION FOR CREDITOR PROTECTION UNDER THE CCAA
The Lion Electric Company Common Shares (LEV)
Company Research
Source: PR Newswire
MONTREAL, Dec. 18, 2024 /PRNewswire/ - The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today that the Company and its subsidiaries have applied to the Superior Court of Quebec (Commercial Division) (the "Court") for an initial order to seek protection from their creditors under the Companies' Creditors Arrangement Act ("CCAA"). The Company and its subsidiaries also intend to seek recognition of the CCAA proceedings in the United States under Chapter 15 of the Bankruptcy Code.In its application for an initial order, the Company seeks the approval of a formal sale and investment solicitation process ("SISP") in order to provide interested parties with the opportunity to submit proposals with a view to enabling the Company and its senior lenders to determine the highest and best available transaction for the Company and its stakeholders.The initial order application seeks, a
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LEV
News
- EV Startups on a Rough Road: Lion Electric Becomes the Latest Casualty [Yahoo! Finance]Yahoo! Finance
- Lion Electric applies to Quebec court for protection from creditors under CCAA [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- LION ELECTRIC FILES APPLICATION FOR CREDITOR PROTECTION UNDER THE CCAA [Yahoo! Finance]Yahoo! Finance
- Lion Electric Expects Bankruptcy Filing Amid EV Pushback [Yahoo! Finance]Yahoo! Finance
- Lion Electric to file for bankruptcy protection after failing to find new investor backing [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
LEV
Sec Filings
- 12/18/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/6/24 - Form 25-NSE
- LEV's page on the SEC website