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Cash Store Seeks Bankruptcy Protection After Ontario Suspends Payday Loan Provider

Canadian payday loan provider Cash Store Financial Services Inc said on Monday it will seek protection from creditors as it faces liquidity problems resulting from the suspension of its right to offer loans in the province of Ontario, the Financial Pos ...

Daily Headline - global.abi.org - 04/14/2014 - 21:32 - 0 comments

Arctic Beverages Ltd. Seeking Creditor Protection

A Manitoba First Nations business success story is showing signs of financial trouble, as one of its companies, Arctic Beverages Ltd., is seeking creditor protection, CBC News reported. Arctic Beverages, which bottles and distributes PepsiCo. and other p ...

Daily Headline - global.abi.org - 04/08/2014 - 22:32 - 0 comments

Livent Creditors Win Key Ruling, Awarded $85-Million

An Ontario judge has awarded $85-million in damages to the creditors of long-defunct theatre company Livent Inc., ruling the firm’s auditors at Deloitte & Touche were negligent in their reviews of the company’s 1997 financial statements, The Globe ...

Daily Headline - global.abi.org - 04/06/2014 - 22:29 - 0 comments

Sears Canada To Refund, Finish Work After Collapse Of Installation Firm

Sears Canada Inc said on Friday it will refund payments or offer alternative services to customers affected by the collapse of SHS Services Management Inc, which provided home-improvement services on behalf of Sears Canada, Reuters reported. SHS, which d ...

Daily Headline - global.abi.org - 03/23/2014 - 10:13 - 0 comments

Petcetera To File For Creditor Protection Under Bankruptcy And Insolvency Act

Pet supply store Petcetera said Monday it plans to file for creditor protection in hopes of restructuring its operations, The Calgary Herald reported. The retailer, which has 18 stores across the country, also said it will cut the price on everything ...

Daily Headline - global.abi.org - 03/17/2014 - 22:48 - 0 comments

Canadian Sanctions Target Former Ukrainian Government Officials

The Office of the Superintendent of Financial Institutions (OSFI) has issued a notice dated March 5, 2014, directing banks, trust companies, insurers and other federally regulated financial institutions (FRFIs) to immediately freeze assets of the former ...

Resource Article - twallace@abiwor... - 03/24/2014 - 17:27 - 0 comments - 1 attachment

Veris Gold Rises As Restructuring Committee Investigates Strategic Alternatives

The TSX-listed stock of North American gold producer Veris Gold on Monday climbed after the company announced that a restructuring committee announced earlier this month was investigating strategic alternatives and to plan the financial restructuring of ...

Daily Headline - global.abi.org - 02/24/2014 - 21:43 - 0 comments

Mobilicity Creditor Turns To Court For $1.7M In Past Payments, Pressure Builds To Find Buyer

Pressure is building on Mobilicity to lock down a deal with a buyer as one of its suppliers is now pushing for payment of $1.7-million in fees owing. Mobilicity, known formally as Data and Audio-Visual Enterprises (DAVE) Wireless, is under court protecti ...

Daily Headline - global.abi.org - 02/19/2014 - 21:46 - 0 comments

Heenan Blaikie Winds Down In Biggest Closure Of A Canadian Law Firm

Heenan Blaikie, a Canadian law firm well known for its labor and employment practice, said late on Wednesday its partners had voted to dissolve the firm in the face of financial pressures, making it the largest failure of a law firm in Canadian history, ...

Daily Headline - global.abi.org - 02/06/2014 - 22:34 - 0 comments

Tuscany International Files Bankruptcy on Low Rig Use

Tuscany International Drilling Inc., a Canadian oil-field services company that operates in South America, sought U.S. bankruptcy court protection from creditors, citing heavy competition and slow payments from customers, Bloomberg News reported. The Cal ...

Daily Headline - global.abi.org - 02/02/2014 - 21:32 - 0 comments

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