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U.S. Steel Canada Gets $185 Million Loan From Parent

U.S. Steel Canada says a proposal from its parent company and largest secured creditor to lend $185 million will let the insolvent steelmaker maintain its operations for another year and begin a process to sell its two Ontario operations, the Toronto S ...

Daily Headline - global.abi.org - 09/24/2014 - 21:10 - 0 comments

Canada - China Agreement to Promote and Protect Reciprocal Investment Coming into Force

In a major step to facilitate and grow trade and investment between Canada and the People's Republic of China, the two countries signed a Foreign Investment Promotion and Protection Agreement (FIPA) in September 2012. The FIPA has now been ratified ...

Resource Article - abi_admin - 09/17/2014 - 10:31 - 0 comments - 1 attachment

Algoma Gains Liquidity After Restructuring Plan Approved

Essar Steel Algoma Inc. will have sufficient liquidity to complete capital improvements and buy enough raw materials to get it through the winter after the Ontario Superior Court of Justice approved its restructuring plan, The Globe and Mail reported ...

Daily Headline - global.abi.org - 09/16/2014 - 21:31 - 0 comments

U.S. Steel’s Canada Unit Files for Creditor Protection

The Canadian unit of U.S. Steel Corp. filed for court protection from creditors to restructure its operations. The steelmaker applied to the Ontario Superior Court today for protection under Canada’s Companies’ Creditors Arrangement Act, U.S. Steel Canad ...

Daily Headline - global.abi.org - 09/16/2014 - 21:35 - 0 comments

Miner Mercator Files For Creditor Protection In U.S., Canada

Small base metals miner Mercator Minerals Ltd said on Tuesday it had filed for protection from its creditors in Canada and the United States, and the Toronto Stock Exchange suspended trading of its shares and began a delisting review, Reuters reported. T ...

Daily Headline - global.abi.org - 08/27/2014 - 21:27 - 0 comments

Bombay, Bowring Under Court Protection While Looking For Solution To Debt Problem

Retailers Bombay & Co. Inc., Bowring & Co. Inc. and Benix & Co. Inc. are operating under court protection from creditors while their owners look for a buyer or partner to help them survive a severe cash shortage and overwhelming debt, The T ...

Daily Headline - global.abi.org - 08/12/2014 - 23:18 - 0 comments

Thirty-Something Canadians Most Indebted After Home Boom

Canadians from 35 to 44 years old added the most relative to other age groups to their debt loads as rising home prices led them to take out larger mortgages, according to a report by Royal Bank of Canada, Bloomberg News reported today. People in that ag ...

Daily Headline - abi_admin - 08/07/2014 - 14:09 - 0 comments

Bombardier Restructuring Exposes Liquidity, Debt Risks –Analysts

Bombardier Inc's unexpected aerospace restructuring announcement last week casts an uncomfortable light on the division's ongoing struggles, with credit rating firms uncertain about its longer term prospects. The restructuring, which was announ ...

Daily Headline - global.abi.org - 07/30/2014 - 22:07 - 0 comments

Ponderosa In Financial Trouble

Ponderosa Golf and Country Club in Peachland has money woes, again. The original Ponderosa fell into receivership years ago and was revived by Ponderosa Peachland Development, The Daily Courier reported. The new Ponderosa calls for a $1 billion maste ...

Daily Headline - global.abi.org - 07/13/2014 - 23:14 - 0 comments

CRA FATCA Guidance Clarifies IGA Reporting Obligations

Canadian entities that could be subject to the U.S. Foreign Account Tax Compliance Act (FATCA), which takes effect July 1, 2014, will be interested in the CRA’s new guidance on Canada’s intergovernmental agreement (IGA) with the United States. This much- ...

Resource Article - twallace@abiwor... - 07/02/2014 - 10:23 - 0 comments - 0 attachments

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