Results for Canada
- How Nortel Racked Up A $755-Million Tab
It’s a world where an e-mail that takes just six minutes to write costs more than $100, and where just the act of compiling one month’s legal bill – not the bill itself – costs $40,000. Welcome to the high-stakes, high-priced universe of cross-border ban ...
Daily Headline - global.abi.org - 01/28/2013 - 00:03 - 0 comments
- Nortel Networks Talks On Dividing Cash From Sales End
Talks to divide $9 billion raised from the sale of businesses of Nortel Networks, the telecoms equipment maker that went bankrupt in 2009, ended without agreement, and the mediator said on Thursday further discussions were no longer worthwhile, Reuters r ...
Daily Headline - global.abi.org - 01/24/2013 - 23:11 - 0 comments
- Mediation Extended In Fight Over $9 Billion In Nortel Assets
A mediator overseeing creditor negotiations in Nortel Networks' bankruptcy said on Tuesday he is extending talks over how to distribute about $9 billion in cash at the fallen telecom, Reuters reported. Ontario Chief Justice Warren Winkler said in a ...
Daily Headline - global.abi.org - 01/22/2013 - 22:39 - 0 comments
- Court Dismisses Fraud Charges Against 3 Nortel Execs
The former chief executive of bankrupt Nortel Networks and two former senior executives were found not guilty Monday of falsifying financial reports in what prosecutors said was a scheme to report profits and gain bonuses, the Associated Press reported. ...
Daily Headline - global.abi.org - 01/14/2013 - 20:57 - 0 comments
- Nortel's Legal Mess Pits Bondholders Against Retirees
Nortel Networks was once the largest telecommunication equipment company in North America, but since it filed for bankruptcy in 2009 it has earned a new label: one of the world's most complicated legal proceedings, Reuters reported. Bondholders, sup ...
Daily Headline - global.abi.org - 01/13/2013 - 23:35 - 0 comments
- High Court Says Newfoundland Can't Force Insolvent Firm To Clean Contamination
Newfoundland and Labrador called on the Harper government Friday to change corporate bankruptcy laws after it lost a major environmental appeal before the Supreme Court of Canada, the Canadian Press reported. The province failed in its bid to force the n ...
Daily Headline - global.abi.org - 12/09/2012 - 20:03 - 0 comments
- CP Rail To Eliminate 4,500 Positions By 2016 As Part Of Restructuring
Canadian Pacific Railway will eliminate some 4,500 employee and contractor positions by 2016, the new chief executive of Canada’s second largest railway announced Tuesday, The Washington Post reported on an Associated Press story. Chief executive Hun ...
Daily Headline - global.abi.org - 12/04/2012 - 22:24 - 0 comments
- E&Y Settlement Sets Record For Auditors
Representing the largest settlement ever by an auditor in a Canadian securities class-action case, Ernst & Young Canada agreed to pay $117-million to investors of Sino-Forest Corp., the Chinese timber firm whose shares collapsed in 2011 amid sensatio ...
Daily Headline - global.abi.org - 12/03/2012 - 23:53 - 0 comments
- Ontario Court Of Appeal Court Upholds Lower Court Decision In Sino-Forest Case
The Ontario Court of Appeal has upheld a lower court decision that ranked indemnity claims by the auditors and underwriters of Sino-Forest Corp. with other equity claims in the company's restructuring, The Canadian Press reported. Several class-acti ...
Daily Headline - global.abi.org - 11/26/2012 - 23:41 - 0 comments
- Risks Are Mounting in Canada
After scratching out a faster recovery than the U.S. and most developed nations, Canada is facing its strongest economic headwinds in years, including falling commodity prices and ballooning personal debt, the Wall Street Journal reported today. Whil ...
Daily Headline - abi_admin - 11/26/2012 - 13:23 - 0 comments