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Lion Electric to file for creditor protection

Lion Electric will file for creditor protection amid ongoing financial struggles.
The filing could have significant implications for Lion Electric's operations.
Stakeholders are concerned about the future of Lion Electric due to its high debt levels.
Lion Electric aims to restructure and find a viable path forward.

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Global News

Lion Electric applies to Quebec Court for creditor protection after defaulting on debt - Montreal

Lion Electric's filing for credit protection comes after the electric school bus maker said Monday that it had defaulted on its debt.

3 months ago·Toronto, Canada

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The Globe & Mail

+6 Reposted by 6 other sources

Lion Electric applies to Quebec court for protection from creditors under CCAA

The electric school bus maker also says it plans to seek recognition of the CCAA proceedings in the U.S. under Chapter 15 of the Bankruptcy Code

3 months ago·Canada

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Central Maine News

Maine assesses options after electric bus provider seeks credit protection

Several school districts across Maine have received buses from the Quebec-based Lion Electric and have reported continuing problems with the vehicles.

3 months ago·Maine, United States

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tfppwire.com

Electric Bus Manufacturer That Received Millions From Biden Set to File Bankruptcy

An electric bus manufacturer heavily funded by government programs, including millions in U.S. taxpayer dollars from the Biden administration, is now on the brink of financial collapse, according to a new report from Bloomberg. Key Facts: – Lion Electric Co., based in Quebec, is seeking creditor protection after its credit arrangements expired. – The company received about $38 million in U.S. taxpayer funds to supply 97 electric school buses in …

3 months ago

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The Epoch Times

Quebec EV Maker to Seek Creditor Protection After Defaulting on Debt

The Lion Electric Co. says it expects to seek protection from creditors under the Companies’ Creditors Arrangement Act. The electric school bus maker says it has defaulted on its debt and is in talks with its senior lenders to obtain additional funds for a new debtor-in-possession credit facility. It says it plans to restructure its business and pursue a formal sales and investment solicitation process. The company temporarily laid off 400 emplo…

3 months ago·New York, United States

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Financial Post

Lion Electric Expects Bankruptcy Filing Amid EV Pushback

(Bloomberg) — Quebec committed billions of dollars to carve out its place in North America’s electric vehicle supply chain, but those efforts have been thwarted by a string of bad news. The latest: electric bus and truck maker Lion Electric Co. expects to seek creditor protection.

3 months ago·Canada

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