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Nortel Takes Another Step Toward Wrapping Up Bankruptcy Case

Judges in Canada and the U.S. on Thursday approved materials explaining Nortel Networks Corp.’s creditor-repayment plan, inaugurating the beginning of the end of one of the priciest bankruptcies on record, The Wall Street Journal reported. Thursday’s ...

Daily Headline - global.abi.org - 12/01/2016 - 22:25 - 0 comments

Lightstream Survives 'Painful' Restructuring With $1.3 Billion Deal

After struggling to pay its debts while oil prices tumbled, Calgary’s Lightstream Resources Ltd. emerged from a “painful” restructuring with a $1.35-billion deal that will clear the way for new production in 2017, the company says, The Calgary Herald ...

Daily Headline - global.abi.org - 11/25/2016 - 01:03 - 0 comments

Canada’s Housing Agency Warns of Rising Household Debt

Elevated house prices and record-high debt levels are contributing to worries about Canada’s future economic growth, the head of the country’s national housing agency says, The Wall Street Journal reported. Speaking at the Bank of England on Friday, ...

Daily Headline - global.abi.org - 11/20/2016 - 19:22 - 0 comments

Stress Test Indicates Canada Housing Prices Could Drop Precipitously

to rise about 9.0% between 2017 and 2021, it said several extreme situations could result in price ...

Daily Headline - global.abi.org - 11/17/2016 - 21:40 - 0 comments

Province Preparing To Step Into Essar Steel Algoma Restructuring

The Ontario government is planning a major intervention in Essar Steel Algoma's recovery from insolvency, the Sault Ste. Marie Economic Development Corp. learned today. News of the funding was disclosed this afternoon at a meeting of the EDC board b ...

Daily Headline - global.abi.org - 11/07/2016 - 22:21 - 0 comments

Canada Commits New Spending on Infrastructure Amid Slow-Growth Economy

Canada Finance Minister Bill Morneau pledged Tuesday to spend additional billions of dollars in infrastructure for the remainder of this decade and beyond as the Liberal government presses ahead with fiscal policy to lift moribund growth, The Wall Stre ...

Daily Headline - global.abi.org - 11/01/2016 - 20:49 - 0 comments

Bedrock Industries Reaches Deal To Buy U.S. Steel Canada

American Company Bedrock Industries Group has reached a deal to buy beleaguered U.S. Steel Canada, U.S. Steel announced today, CBC.ca reported. The sale is subject to court approvals. In a statement, provincial minister of finance Charles Sousa called th ...

Daily Headline - global.abi.org - 11/01/2016 - 20:51 - 0 comments

Bauer Ice Hockey Gear Maker Files Bankruptcy In U.S. And Canada

Performance Sports Group Ltd , the maker of Bauer ice hockey gear, said on Monday it has filed for bankruptcy protection in the United States and Canada to facilitate a restructuring and sale of almost all of its assets. The company listed assets in the ...

Daily Headline - global.abi.org - 10/31/2016 - 18:41 - 0 comments

SunEdison’s Canadian Unit Files for Bankruptcy Protection

Renewable energy giant SunEdison Inc. has placed its Canadian arm into bankruptcy while the parent company seeks more time under court protection in the U.S. to sell off assets and work out a strategy for repaying billions of dollars in debt, The Wall ...

Daily Headline - global.abi.org - 10/30/2016 - 17:11 - 0 comments

National Bank Of Canada Cuts 600 Jobs In Restructuring

National Bank of Canada said on Thursday it will cut 600 jobs as part of a restructuring and take a charge of C$175 million ($131 million) in the fourth quarter. Canada's sixth biggest lender said the charge included severance payments to employees ...

Daily Headline - global.abi.org - 10/27/2016 - 20:07 - 0 comments

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