Results for Canada
- AbitibiBowater Creditors Get Filing Deadline
U.S. and Canadian authorities set a Nov. 13 deadline for creditor claims against AbitibiBowater, the newsprint maker said Friday. The Quebec Superior Court in Canada and the U.S. Bankruptcy Court for the District of Delaware also established procedural r ...
Daily Headline - global.abi.org - 09/08/2009 - 09:16 - 0 comments
- IRS Hits Nortel with $3 Billion Tax Claim
The U.S. tax authorities have thrown a huge curve ball at Nortel creditors by submitting a $3-billion U.S. claim for back taxes, interest and other penalties, The Ottawa Citizen reported. If U.S. bankruptcy judge Kevin Gross accepts all or most of th ...
Daily Headline - global.abi.org - 08/31/2009 - 09:12 - 0 comments
- Canadian Firms Get $1 Billion Lifeline
Canadian companies facing bankruptcy are being given access to a new $1-billion lifeline from Ottawa and major financial firms to provide breathing space to restructure operations and return to solvency, Export Development Canada said yesterday. The EDC ...
Daily Headline - global.abi.org - 08/20/2009 - 08:06 - 0 comments
- RIM Urges Canadian Government to Review
BlackBerry maker Research in Motion says Canadians want and expect the Canadian government to prevent the $1.1-billion sale of Nortel Network's coveted wireless assets to Ericsson of Sweden, The Associated Press reported. Canada-based RIM issued a s ...
Daily Headline - global.abi.org - 08/20/2009 - 08:05 - 0 comments
- Ottawa Says It Won't Block Nortel Sale
Prime Minister Stephen Harper is showing little inclination to intervene in the sale of Nortel's prime assets to a foreign buyer, saying he is reluctant to erect protectionist barriers in Canada while preaching the benefits of freer trade in the Ame ...
Daily Headline - global.abi.org - 08/12/2009 - 06:46 - 0 comments
- Canada June Bankruptcies Surge as Job Losses Kick In
Canadian bankruptcies rose 51.6 percent in June compared to a year earlier as more consumers were unable to pay debts, but business bankruptcies rose only modestly despite the recession, a government report showed. The number of consumer bankruptcies in ...
Daily Headline - global.abi.org - 08/12/2009 - 06:45 - 0 comments
- Canada’s Fraser Papers Narrows Second Quarter Loss
Fraser Papers Inc., a Toronto-based forestry company that's restructuring under bankruptcy protection from creditors, said its net loss for the second quarter narrowed by nearly half as the company booked a currency related one-time gain, The Canadi ...
Daily Headline - global.abi.org - 08/07/2009 - 07:43 - 0 comments
- MPs to Grill Top Executives About Nortel Asset Auction
The Nortel sale, which has emerged as a test of Canadian national economic strategy, will come under the spotlight tomorrow when MPs hold an emergency hearing on the auctioning of the bankrupt company's prized wireless equipment business, The Toro ...
Daily Headline - global.abi.org - 08/06/2009 - 10:46 - 0 comments
- Nortel Gets OK To Sell Enterprise Unit For $475 Million
Bankrupt telecommunications giant Nortel Networks Inc. reportedly won approval from courts in Canada and the U.S. on Tuesday to sell off its enterprise solutions business for $475 million, Bankruptcy Law360 reported. Avaya and Nortel announced the ag ...
Daily Headline - global.abi.org - 08/05/2009 - 09:27 - 0 comments
- Montreal Firm Adaltis Files for Bankruptcy
Lossmaking Montreal diagnostics specialist Adaltis Inc. said Tuesday it has filed for bankruptcy in Canada to effect an orderly liquidation of assets, property and operations, The Montreal Gazette reported. The filing is voluntary and does not includ ...
Daily Headline - global.abi.org - 08/05/2009 - 09:24 - 0 comments