Canada’s government formally told the global automaker Stellantis on Thursday that its transfer of the production of its Jeep Compass from a suburban Toronto plant to Illinois meant that the company had defaulted on contracts covering hundreds of millions of dollars in assistance, the New York Times reported. “Stellantis is on the hook,” Mélanie Joly, the Canadian industry minister, told a parliamentary committee after announcing that the government had served the company with a “notice of default” on Thursday.

Canacol Energy Ltd., a Canadian natural gas exploration and production company with operations in Colombia, has formally requested that the Colombian Superintendencia de Sociedades (Superintendency of Corporations) recognize its ongoing Canadian insolvency proceedings, FinanceColombia.com reported. The objective of the petition is to suspend all execution processes and protective measures that could affect the continuity of its operations in Colombia. The request, submitted by KPMG INC.

As Canada turns to stablecoin regulation, Scotiabank argued that the move is unlikely to shake domestic markets, CoinDesk.com reported. Any framework is really about upgrading payment speed, efficiency and 24/7 settlement, rather than managing systemic risk, economist Derek Holt wrote in last week's report. In November, the government committed itself to legislation that will regulate stablecoins backed by the Canadian dollar. It follows in the footsteps of the U.S. which passed a law to govern stablecoin issuers in recent months.

Ireland wants to help Canadian tech companies scale up across the Atlantic Ocean, its enterprise minister told The Logic, as the country gets ready to shepherd new regulations on artificial intelligence through the European Union next year. Peter Burke, Ireland’s minister for enterprise, tourism and employment, was in Toronto and Ottawa last week on a mission to expand trade and investment with Canada—especially through greater connections in the tech sector.

Canacol Energy Ltd. announced that the it and certain subsidiaries filed for relief under chapter 15 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of New York, according to a press release. The petitions for relief seek recognition of the Company’s Canadian proceeding commenced under the Companies' Creditors Arrangement Act, or CCAA, in the Court of King’s Bench of Alberta as a foreign main proceeding. At a hearing held on November 20, 2025, the U.S.

Montauk Metals Inc. filed a corporate assignment into bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada) (the “BIA”), according to a press release. The filing comes after the Board was unable to reach a settlement with its creditors. The Fuller Landau Group Inc. has been appointed as the Licensed Insolvency Trustee (the “Trustee”) under the bankruptcy proceedings.

China Evergrande Group’s famous log-cabin hotel in Quebec, Canada, has been placed in receivership after the defaulted real estate developer failed to make payments on its debt, Bloomberg News reported. Fairmont Le Chateau Montebello, which has hosted luminaries including Grace Kelly and Margaret Thatcher, would be put up for sale by PricewaterhouseCoopers LLP, the court-appointed receiver, according to documents filed this week on the accounting firm’s website.

The future homes for 27 pieces of Hudson’s Bay history were decided Wednesday in a packed Toronto auction, where art lovers, historians and those wistful about the fall of Canada’s oldest company spent a collective $5.9 million, BNNBloomberg reported. In addition to covering their successful bid, buyers must also pay a premium of 25 per cent of the hammer price up to and including $25,000 plus 20 per cent of the hammer price over $25,000 and any applicable sales tax. Collectively, bidders spent $4.9 million on paintings before the buyer’s premium was added.

The rise of online sports betting and casino apps has yielded big profits for gambling companies. But insolvency and psychology experts warn of dire consequences for a growing number of Canadians — young men, in particular — and recommend counselling, a payback plan and self-examination for those needing to dig themselves out of debt, the Canadian Press reported.