North America

Results for North America

Canada Oil Company Lightstream Says Risk Of Mid-June Debt Default

Canadian oil and gas producer Lightstream Resources warned on Monday it could fail to meet a debt payment obligation due in mid-June if it is unable to bolster its balance sheet through asset sales, Reuters reported. The Calgary-based company also said i ...

Daily Headline - global.abi.org - 05/02/2016 - 21:03 - 0 comments

Alberta And Calgary Lead Way In Insolvency Increases As Oil Slump Drags On

Alberta’s remorseless economic pain has the province leading the nation in increased insolvency, with an 18.1 per cent jump in 2015 over the previous year, The Calgary Herald reported. Among major cities, consumers in a Calgary broadsided by slumping ...

Daily Headline - global.abi.org - 05/01/2016 - 21:01 - 0 comments

Canadian Rating Agency Holds Key To Portugal’s Future

A Canadian rating agency will decide on Friday whether to maintain or cut off life support to Portugal’s fragile economic recovery, the Financial Times reported. If DBRS downgrades Lisbon to below investment grade, as Fitch, Moody’s and Standard & ...

Daily Headline - global.abi.org - 04/27/2016 - 22:23 - 0 comments

Toronto Condo Builder Urbancorp Files for Debt Restructuring

Urbancorp, one of Canada’s largest residential developers, has filed for a restructuring that includes selling off assets as the company seeks to dig itself out of debt, Bloomberg News reported. The company has filed for the restructuring under the Bankr ...

Daily Headline - global.abi.org - 04/24/2016 - 17:23 - 0 comments

FIs — Get Ready for New Common Reporting Standard Rules

Canadian financial institutions will be required to provide the CRA with information on accounts held by non-residents of Canada beginning in 2018. The CRA will provide this information to other countries’ tax authorities in exchange for information abou ...

Resource Article - twallace@abiwor... - 04/19/2016 - 13:50 - 0 comments - 0 attachments

Highlights of the 2016 Newfoundland and Labrador Budget

Newfoundland and Labrador Finance Minister Cathy Bennett delivered the province’s 2016 budget on April 14, 2016. The budget increases both personal and corporate income tax rates along with the province’s HST rate, eliminates the manufacturing and proces ...

Resource Article - twallace@abiwor... - 04/19/2016 - 13:41 - 0 comments - 0 attachments

Federal Reserve and FDIC Find Resolution Plans of Five U.S. Financial Institutions to be “Not Credible”

The Federal Reserve and the FDIC today provided feedback on the 2015 resolution plans filed by the eight “first-wave” domestic filers, and issued Guidance to govern their 2017 resolution plans. Most significantly, the Federal Reserve and the FDIC jointl ...

Resource Article - twallace@abiwor... - 04/19/2016 - 13:38 - 0 comments - 0 attachments

Alert: Proposed Treasury Regulations on Debt-Equity Classification Change the Landscape for Related Party Financings

On April 4, 2016, the U.S. Treasury Department and the Internal Revenue Service (“IRS”) proposed new regulations that, if finalized, would dramatically change how debt instruments issued between related parties are treated and analyzed (the “Proposed Reg ...

Resource Article - twallace@abiwor... - 04/19/2016 - 13:34 - 0 comments - 0 attachments

Conyers Dill & Pearman - Alert - Bermuda Partnership Law Update

Update: Bermuda’s Partnership law received a significant update with the enactment of the Partnership Amendment Act, 2015, the Exempted Partnerships Amendment Act, 2015, the Limited Partnership Amendment Act, 2015 and the Companies Amendment Act, 2015 (t ...

Resource Article - twallace@abiwor... - 04/08/2016 - 16:18 - 0 comments - 0 attachments

IFRS Breaking News - March 2016

Our Guide to annual financial statements – Illustrative disclosures for banks has been updated to reflect early application of IFRS 9 Financial Instruments. As with other complex standards, the interpretation of IFRS 9’s requirements is subject to ongo ...

Resource Article - twallace@abiwor... - 04/08/2016 - 16:15 - 0 comments - 0 attachments

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