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Province Pushes For Changes To U.S. Steel Creditor Process

Lawyers representing the provincial government took centre stage at U.S. Steel Canada’s restructuring hearing on Thursday, as the court worked toward figuring out who should gets paid first if the company is sold or goes bankrupt, CBC News reported. The ...

Daily Headline - global.abi.org - 11/13/2014 - 21:09 - 0 comments

Despite Progress, Canada's Banks Remain Secretive In Many Ways

Seven years after the global financial crisis started, Canada’s banks remain selective in what they disclose – a problem illustrated by Ottawa’s recent crackdown on credit-card transaction fees, The Globe and Mail reported. Despite being one of the b ...

Daily Headline - global.abi.org - 11/09/2014 - 20:10 - 0 comments

SNC-Lavalin to Cut 4,000 Jobs in Restructuring

Engineering and construction company SNC-Lavalin Group Inc. on Thursday said it would cut 4,000 jobs and record significant charges over the next 18 months as part of a restructuring aimed partly at combating a global slowdown in mining, The Wall Stree ...

Daily Headline - global.abi.org - 11/06/2014 - 22:03 - 0 comments

Calgary’s AltaGas Moves Closer To Taking Over Insolvent LNG Proposal

Prospective LNG exporter AltaGas Ltd. of Calgary said Monday it plans to double its asset base from $7.5 billion to $15 billion by 2019. At an investor day webcast from Toronto, executives said AltaGas plans to expand its utility and power operations but ...

Daily Headline - global.abi.org - 11/03/2014 - 21:39 - 0 comments

U.S. Steel Idles Hamilton Coke Making

U.S. Steel is indefinitely idling its coke-making operations in Hamilton as it restructures the company and looks for a potential buyer — part of what a union head calls a piece-by-piece dismantling of the plant, CBC.ca reported. The company is “hot idli ...

Daily Headline - global.abi.org - 10/28/2014 - 22:05 - 0 comments

Canadian Clothing Retailer Jacob To Close Its Doors

Womenswear retailer Boutique Jacob Inc. is abandoning its restructuring efforts and closing all its 92 stores in Canada, the Chronicle Herald reported on a Canadian Press story. The Montreal-based clothing chain says efforts over the last few months ...

Daily Headline - global.abi.org - 10/21/2014 - 20:29 - 0 comments

U.S. Steel, Hamilton Workers Reach Tentative Agreement

The United Steelworkers union has reached a tentative contract agreement with U.S. Steel Canada Inc. that covers workers in Hamilton, marking the first time the steel company has not locked out workers at one of its two major Canadian mills, The Globe ...

Daily Headline - global.abi.org - 10/14/2014 - 21:06 - 0 comments

U.S. Steel Gets Ontario Approval For Canadian Operations Financing Plan

Stakeholders have approved a controversial but essential step in U.S. Steel Canada Inc.’s bankruptcy protection process, allowing the company to move ahead with a restructuring that could result in the sale of its Canadian operations, the Financial Pos ...

Daily Headline - global.abi.org - 10/08/2014 - 21:16 - 0 comments

U.S. Steel Hearing Postponed For Negotiations

The Ontario Superior Court has adjourned a hearing on U.S. Steel Canada Inc. under the Companies’ Creditors Arrangement Act, The Globe and Mail reported. The hearing has been postponed until Tuesday so lawyers can try to negotiate a deal on debtor-in ...

Daily Headline - global.abi.org - 10/06/2014 - 20:08 - 0 comments

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 - 20:10 - 0 comments

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