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Debt-Laden Concordia Faces Bondholder Pressure as Payments Loom

It’s crunch time for Concordia International Corp. With the junk-rated Canadian drug-maker facing two October interest payments, pressure is building for it to reach a debt-restructuring agreement with key bondholders. S&P Global Ratings downgraded C ...

Daily Headline - global.abi.org - 09/21/2017 - 22:22 - 0 comments

Sears Canada Executive in Talks with Private Equity for Deal

Struggling retailer Sears Canada Inc’s top executive is negotiating a private-equity backed deal that could be valued at more than C$650 million ($533 million), citing people familiar with the matter, Reuters reported on a Wall Street Journal story. ...

Daily Headline - global.abi.org - 09/17/2017 - 23:11 - 0 comments

Fairfax Is Said to Back AfriSam to Clinch African Cement Deal

Fairfax Financial Holdings Ltd. is prepared to inject as much as 5 billion rand ($386 million) to pay off bank debt owed by AfriSam Group Pty Ltd. and help South Africa’s second-biggest cement producer clinch a tie-up with larger rival PPC Ltd., accordin ...

Daily Headline - global.abi.org - 09/04/2017 - 20:34 - 0 comments

Sears Canada Chairman Preps Going-Concern Bid

Sears Canada Inc.’s top executive is preparing an offer to save the bankrupt company from liquidation, The Wall Street Journal reported. Executive Chairman Brandon Stranzl intends to submit an offer for Sears Canada that would preserve the company as ...

Daily Headline - global.abi.org - 08/16/2017 - 22:32 - 0 comments

IFRS Breaking News - The latest news on international standards

In this edition Insurance Contracts – Assessing the impact of IFRS 17 Revenue – New sector-specific insights available Insights into IFRS – Getting ready for IFRS change Banks – Credit loss accounting for dual reporters New standards – Coordina ...

Resource Article - twallace@abiwor... - 08/14/2017 - 14:50 - 0 comments - 0 attachments

Canadian Private-Equity Giant Catalyst Accused of Fraud by Whistleblowers

At least four individuals have filed whistleblower complaints with Canadian securities regulators alleging fraud at a multibillion-dollar investment firm and its publicly traded lending arm, according to people familiar with the matter and documents revi ...

Daily Headline - global.abi.org - 08/09/2017 - 22:25 - 0 comments

Fight Over Abandoned Oil Wells in Canada May Go to Top Court

A battle over whether energy-company creditors should help pay for cleaning up thousands of abandoned oil wells in Canada may be heading to the country’s Supreme Court, Bloomberg News reported. At the center of the dispute is Redwater Energy Corp., a sma ...

Daily Headline - global.abi.org - 08/01/2017 - 22:26 - 0 comments

Sears Canada Wins Court Approval for Sale Process

Sears Canada Inc was granted court approval on Thursday to proceed with a sale process that would allow the retailer to consider a range of potential deals, according to court documents. A report by the court-appointed monitor FTI Consulting posted on it ...

Daily Headline - global.abi.org - 07/13/2017 - 22:05 - 0 comments

Lampert to Ask Court for Access to Sears Canada Restructuring Documents

Sears Canada Inc majority shareholders including Edward Lampert, ESL Investments Inc and Fairholme Capital Management LLC are seeking access to internal documents related to its restructuring, according to a notice of motion posted on Wednesday, Reuters ...

Daily Headline - global.abi.org - 07/12/2017 - 22:31 - 0 comments

Sears Canada Preparing to File for Bankruptcy Protection

Eddie Lampert’s efforts to keep his crumbling Sears Holdings Corp. empire out of bankruptcy court may be running out of time. Sears Canada Inc., which operates more than 200 stores, has hired advisers and is preparing to file for bankruptcy protection in ...

Daily Headline - global.abi.org - 06/21/2017 - 22:32 - 0 comments

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