Canada

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Oil and Gas Operators’ Liens: Protecting the Operator’s Interests

Operators’ Liens typically provide that the operator, processor or transporter, as applicable, is granted a first priority lien and charge over the subject matter of the agreement (i.e., the joint lands, the production and/or the joint equipment). Howeve ...

Resource Article - abi_admin - 07/27/2015 - 14:39 - 0 comments - 0 attachments

Unions Welcome New Lender For U.S. Steel Canada

A replacement lender for U.S. Steel Canada that will in effect double the cost of keeping two Canadian steel plants afloat was approved by a Toronto court Friday, CBC.ca reported. The application from USSC to replace its parent company, U.S. Steel (USS) ...

Daily Headline - global.abi.org - 07/26/2015 - 21:22 - 0 comments

Bank of Canada Cuts Key Interest Rate to 0.5 Percent

overnight rate by a quarter of a percentage point to 0.5 percent. In response, the Canadian dollar plunged ...

Daily Headline - global.abi.org - 07/15/2015 - 22:37 - 0 comments

Foreign Investment Review and Investment Canada Act Update: Significant Developments in National Security Reviews under the ICA

Two recent developments highlight the significance and rapidly changing nature of national security considerations in reviews under the Investment Canada Act (the ICA): · In mid-June Industry Canada was reported to have blocked a Chinese stat ...

Resource Article - abi_admin - 07/03/2015 - 09:53 - 0 comments - 1 attachment

Insolvent Laricina Energy To Close Pilot Oilsands Project

Insolvent Laricina Energy Ltd. plans to close its Saleski pilot oilsands project by fall to save money, according to a report filed online by its court-appointed monitor, PricewaterhouseCoopers, The Calgary Herald reported. The report says Laricina h ...

Daily Headline - global.abi.org - 07/01/2015 - 22:30 - 0 comments

Mobilicity Gets Approval To Disburse Funds From Rogers Deal To Creditors

A judge has approved the distribution of funds in Mobilicity’s restructuring proceedings after the small wireless carrier struck a $465-million deal to sell itself to Rogers Communications Inc., The Globe and Mail reported. The court’s order Monday w ...

Daily Headline - global.abi.org - 06/29/2015 - 22:00 - 0 comments

Athabasca University Faces Insolvency, President Reassures Students

Alberta's online university is facing a financial crisis, but the president is reassuring students that the institution will not be closing down, CBC News reported. According to an internal report, Athabasca University (AU) will be insolvent in two ...

Daily Headline - global.abi.org - 06/14/2015 - 19:31 - 0 comments

Insolvency Rising In Canada: CIBC Report

The number of Canadians who can’t pay their debts and are being forced into insolvency is on the rise for the first time since the recession, according to a report by CIBC, The Canadian Press reported. The bank says the cumulative number of insolvencies ...

Daily Headline - global.abi.org - 06/11/2015 - 22:41 - 0 comments

Lenders File To Throw Southern Pacific Into Receivership

Two weeks after announcing it will shut down its money-losing oilsands project, insolvent Southern Pacific Resource Corp. said its first-lien creditors have filed to throw it into receivership, The Calgary Herald reported. “The effect of a receiversh ...

Daily Headline - global.abi.org - 05/28/2015 - 18:57 - 0 comments

Recent Developments in Canadian Foreign Anti-Bribery Law

Canada, like other jurisdictions, has had in place for several years anti-bribery and corruption legislation – the Corruption of Foreign Public Officials Act (the “CFPOA”) – that prohibits payments made (or offered to be made) to foreign officials for th ...

Resource Article - abi_admin - 05/28/2015 - 09:16 - 0 comments - 0 attachments

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