North America

Results for North America

Mexico’s ICA Obtains Loan, Unveils Downsizing Plan

Struggling Mexican construction company Empresas ICA SAB said Friday it has secured a $215 million loan to fund current and future work as it outlined a plan to become a much leaner company, The Wall Street Journal reported. ICA, which has $1.35 bill ...

Daily Headline - global.abi.org - 06/19/2016 - 22:11 - 0 comments

Mexico’s ICA Obtains Loan, Unveils Downsizing Plan

Struggling Mexican construction company Empresas ICA SAB said Friday it has secured a $215 million loan to fund current and future work as it outlined a plan to become a much leaner company, The Wall Street Journal reported. ICA, which has $1.35 bill ...

Daily Headline - global.abi.org - 06/19/2016 - 22:08 - 0 comments

Revitalized Essar Steel Algoma May Emerge From Insolvency Under Its Own Power

Buoyed by an improving steel market, Essar Steel Algoma is now hinting it may be healthy enough to emerge from insolvency protection without a new buyer or outside investment, SooToday.com reported. In addition to reviewing bids from prospective purchase ...

Daily Headline - global.abi.org - 06/14/2016 - 23:49 - 0 comments

Twin Butte Weighs Options as Lenders Give Daily Extensions

In a sign of the scramble it’s become to secure financing in Canada’s energy patch, lenders are revising one company’s debt repayment deadline daily, Bloomberg News reported. For the third straight day, Twin Butte Energy Ltd.’s bankers on Thursday agreed ...

Daily Headline - global.abi.org - 06/02/2016 - 20:58 - 0 comments

Calgary Oil And Gas Firm Blames Sage Grouse Protection Order For Insolvency

A junior oil and gas company in Calgary is blaming an order aimed at protecting a rare Prairie bird for its insolvency, CTV News reported. LGX Oil + Gas says its daily operations and drilling plans were significantly disrupted when an emergency order und ...

Daily Headline - global.abi.org - 06/02/2016 - 20:58 - 0 comments

Alberta Court Ruling May Trigger Rise In Orphaned Wells: Lawyers

Lawyers in Canada's energy capital Calgary warned on Friday that a judge's decision to grant lenders priority over environmental clean-up costs in oil and gas bankruptcies could lead to a surge in orphaned wells in Alberta, Reuters reported. An ...

Daily Headline - global.abi.org - 05/22/2016 - 21:07 - 0 comments

Canada's Hudson's Bay To Take Over 20 Dutch Department Stores

Hudson's Bay Co. of Canada will expand in Europe by taking over 20 department stores in the Netherlands, it said on Tuesday, Reuters reported. It is in the final stage of talks about leasing prime locations of the oldest Dutch department store chain ...

Daily Headline - global.abi.org - 05/17/2016 - 22:23 - 0 comments

Oil Sands Junior Producer Connacher Files For Creditor Protection

Junior oil sands producer Connacher Oil and Gas Ltd filed for protection from creditors at an Alberta court on Monday, making it the latest Canadian victim of the two-year slump in global crude prices, Reuters reported. The Calgary-based company said dep ...

Daily Headline - global.abi.org - 05/16/2016 - 21:18 - 0 comments

Canada’s Oil Sands Industry Staggers After a Devastating Fire

As fire ripped through Fort McMurray, oil companies severely pulled back or stopped pumping altogether. Production dropped by a million barrels a day, roughly 40 percent of Alberta’s output, the International New York Times reported. While the oil ma ...

Daily Headline - global.abi.org - 05/11/2016 - 22:34 - 0 comments

Kaisa Seeks U.S. Bankruptcy Court Aid in Hong Kong Restructuring

Kaisa Group Holdings Ltd., which last year became the first Chinese real estate developer to default on dollar bonds, is seeking to use U.S. bankruptcy law to help its debt reorganization in a Hong Kong court, Bloomberg News reported. The Shenzhen, China ...

Daily Headline - global.abi.org - 05/05/2016 - 20:47 - 0 comments

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