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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

Colwood’s Capital City Centre Project Key To League’s Fall

A damning report by the monitor overseeing the League group of companies’ restructuring efforts cites inexperienced, inept management and the poorly executed Capital City Centre in Colwood as the reasons for the death of Victoria-based League, the Time ...

Daily Headline - global.abi.org - 06/27/2014 - 00:36 - 0 comments

Court Extends Mobilicity’s Creditor Protection To September 26

Mobilicity has received another extension of court protection from creditors, this time until Sept. 26, saying it has sufficient resources to maintain service to its wireless phone customers until at least that date, The Toronto Star reported. The On ...

Daily Headline - global.abi.org - 06/25/2014 - 22:16 - 0 comments

Quebec Seeking $409 Million From Train Operator In Lac-Megantic Disaster

The Quebec government is adding its name to a list of creditors seeking money from the insolvent railway company at the heart of the Lac-Megantic train disaster, CTV News reported on a Canadian Press story. The government said Monday that it is seeking $ ...

Daily Headline - global.abi.org - 06/16/2014 - 22:30 - 0 comments

Veris Gold Files For Bankruptcy Protection

Veris Gold Corp., which owns Jerritt Canyon, filed for bankruptcy protection Monday in the U.S. and Canada after the Deutsche Bank AG, London Branch claimed the company was in default, the Elko Daily Free Press reported. These filings also follow Ver ...

Daily Headline - global.abi.org - 06/10/2014 - 21:58 - 0 comments

Canada's Telus Withdraws Mobilicity Bid, Newspaper Says

Telus Corp. has served notice that it’s dropping a $350-million takeover bid for Mobilicity, ending a drawn-out effort to scoop up the struggling small player and its valuable wireless spectrum, The Globe and Mail reported. This turn of events leaves ...

Daily Headline - global.abi.org - 05/21/2014 - 21:33 - 0 comments

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