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GM Canada Vows to Wipe Out Pension Shortfall; Workers Ratify Deal

General Motors of Canada Co. has pledged to eliminate the $2.6-billion deficit in the pension plans for its unionized workers and retirees as part of a new contract negotiated between the company and Unifor, The Globe and Mail reported yesterday. The ...

Daily Headline - abi_admin - 09/27/2016 - 13:29 - 0 comments

What We Know And What We Don't About The Possible U.S. Steel Canada Deal

After more than two years in court-supervised bankruptcy protection, private equity investment firm called Bedrock Industries Group —a fund that buys distressed companies and restructures them —moved into prime position to buy U.S. Steel Canada, CBC.ca r ...

Daily Headline - global.abi.org - 09/22/2016 - 23:12 - 0 comments

Foreign Buying Plummets in Vancouver After New Property Tax

Foreign investors dropped out of Vancouver’s property market last month after the provincial government imposed a 15 percent surcharge to stem a surge in home prices, Bloomberg News reported. Overseas buyers accounted for less than 1 percent of the C$6.5 ...

Daily Headline - global.abi.org - 09/22/2016 - 23:13 - 0 comments

Tervita’s Debt Woes Reach Tipping Point With $2-Billion Restructuring

Lost in last week’s news of more Canadian megamergers, Calgary’s Tervita Corp. unveiled a major restructuring that capped off the company’s near decade-long march toward a broken balance sheet, The Globe and Mail reported. As part of the complicated ...

Daily Headline - global.abi.org - 09/19/2016 - 20:46 - 0 comments

Tervita in Restructuring Deal to Cut Debt by $1.5 Billion

Tervita Corp., the Canadian oilfield services company focused on waste management, is planning a debt-for-equity swap to reduce its total leverage by about C$2 billion ($1.5 billion), Bloomberg News reported. Holders of 63 percent of its senior unsecured ...

Daily Headline - global.abi.org - 09/14/2016 - 23:19 - 0 comments

Lightstream Boosted Bonuses As Share Price Slid To Pennies

Lightstream Resources increased 2015 cash bonuses for three executives months before the Canadian oil producer proposed a debt-for-equity swap to stay afloat as its stock was down to pennies, the Chicago Tribune reported. Chief Financial Officer Pete ...

Daily Headline - global.abi.org - 09/13/2016 - 21:47 - 0 comments

Canada's Postmedia Wins Investor Approval For Restructuring

Debt and equity investors in Canada's largest newspaper publisher have approved a restructuring plan that will give creditors nearly all of its equity and slash its debt obligations, Postmedia Network Canada Corp said on Wednesday. Postmedia, which ...

Daily Headline - global.abi.org - 09/07/2016 - 21:49 - 0 comments

Has Vancouver’s Real Estate Bubble Just Popped?

A few weeks ago the provincial government in British Columbia made headlines by instituting a 15% extra land transfer tax on any real estate transactions from foreign buyers in an attempt to cool Vancouver’s red-hot real estate market, The Motley Fool ...

Daily Headline - global.abi.org - 08/29/2016 - 22:33 - 0 comments

'All Sorts Of Doors' Open As Blackberry Restructures Debt: Analyst

BlackBerry’s announcement that it will be restructuring its debt is “smart financial management,” one tech industry analyst says, CTV News reported. “It gives BlackBerry even more runway as it continues to manage its way through what’s become a very prot ...

Daily Headline - global.abi.org - 08/28/2016 - 18:24 - 0 comments

Venezuela Ordered To Pay Canadian Miner Rusoro More Than $1.2 Billion

An international arbitration tribunal has ordered Venezuela to pay a Vancouver-based mining company more than $1.2 billion ($1.5 billion Cdn.) for expropriating its gold mines. Venezuela took over Rusoro Mining’s investments in the country as part of a n ...

Daily Headline - global.abi.org - 08/23/2016 - 22:52 - 0 comments

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