North America

Results for North America

LDK Files Bankruptcy in U.S. Court on China Solar Glut

LDK Solar Co., the Chinese solar-cell maker that defaulted on its bonds this year, filed for bankruptcy in the U.S. to help carry out restructurings already under way in Hong Kong and the Cayman Islands, Bloomberg News reported. Xinyu, China-based LDK fi ...

Daily Headline - global.abi.org - 10/21/2014 - 21:27 - 0 comments

Canadian Clothing Retailer Jacob To Close Its Doors

Womenswear retailer Boutique Jacob Inc. is abandoning its restructuring efforts and closing all its 92 stores in Canada, the Chronicle Herald reported on a Canadian Press story. The Montreal-based clothing chain says efforts over the last few months ...

Daily Headline - global.abi.org - 10/21/2014 - 21:29 - 0 comments

Barbados Seen Needing IMF Help Amid No Growth, High Debt

Barbados business leaders and economists say the Caribbean island should seek an accord with the International Monetary Fund as the government struggles to spur an economy with one of the world’s heaviest debt burdens, Bloomberg News reported. Efforts by ...

Daily Headline - global.abi.org - 10/14/2014 - 22:05 - 0 comments

U.S. Steel, Hamilton Workers Reach Tentative Agreement

The United Steelworkers union has reached a tentative contract agreement with U.S. Steel Canada Inc. that covers workers in Hamilton, marking the first time the steel company has not locked out workers at one of its two major Canadian mills, The Globe ...

Daily Headline - global.abi.org - 10/14/2014 - 22:06 - 0 comments

Winding Down Failing Banks: Armageddon Delayed

“We will not kick you when you are down, at least not for a couple of days”: that is the gist of a putative deal struck by 18 global banks this week, which agreed not to pull abruptly out of contracts with each other if one of them hits the buffers. As m ...

Daily Headline - global.abi.org - 10/09/2014 - 22:38 - 0 comments

U.S. Steel Gets Ontario Approval For Canadian Operations Financing Plan

Stakeholders have approved a controversial but essential step in U.S. Steel Canada Inc.’s bankruptcy protection process, allowing the company to move ahead with a restructuring that could result in the sale of its Canadian operations, the Financial Pos ...

Daily Headline - global.abi.org - 10/08/2014 - 22:16 - 0 comments

House Of Representatives Passes Insolvency Bill

The House of Representatives on Tuesday passed the new Insolvency Bill, repealing the current Bankruptcy Act and creating a legal environment for the use of insolvency laws, the Jamaica Observer reported. Jamaican law on bankruptcy and insolvency is ...

Daily Headline - global.abi.org - 10/08/2014 - 22:17 - 0 comments

Global Banks Face 25% Loss-Absorbency Rule in FSB Plan

The largest global banks will have to hold more capital and liabilities than previously reported that can automatically be written off in a crisis -- as much as a quarter of risk-weighted assets -- as regulators take on lenders deemed too big to fail. Th ...

Daily Headline - global.abi.org - 10/07/2014 - 19:57 - 0 comments

U.S. Steel Hearing Postponed For Negotiations

The Ontario Superior Court has adjourned a hearing on U.S. Steel Canada Inc. under the Companies’ Creditors Arrangement Act, The Globe and Mail reported. The hearing has been postponed until Tuesday so lawyers can try to negotiate a deal on debtor-in ...

Daily Headline - global.abi.org - 10/06/2014 - 21:08 - 0 comments

IMF Proposes Changes to Government Bond Contracts

The International Monetary Fund Monday backed a gradual exchange of government bonds around the world with new contracts to counter risks that holdout creditors could disrupt potential debt restructurings, The Wall Street Journal reported. The IMF, a ...

Daily Headline - global.abi.org - 10/06/2014 - 21:10 - 0 comments

Syndicate content