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.

A four-week jury trial in a historical Catholic sexual abuse case was supposed to begin yesterday at B.C. Supreme Court in Vancouver, but an “11th-hour” bankruptcy declaration by one of the defendants has delayed the proceeding, CBC.ca reported.

The Laurentian University Faculty Association is filing a challenge under the Canadian Charter of Rights and Freedoms against the Ontario government, CBC.ca reported. The union says a $35-million loan the province gave Laurentian in 2022, to help the university during its insolvency, came with too many strings attached. The loan agreement includes a clause which says Laurentian would need prior consent from the province to “establish, sponsor, administer or otherwise participate in any defined benefit pension plan” until the loan is fully repaid in 2038.

Canada’s latest insolvency data shows household financial strain continuing to climb, WealthProfessional.ca reported. New figures from the Office of the Superintendent of Bankruptcy report a 4.8% year-over-year increase in consumer insolvencies in Q3 2025, reaching 36,256 filings and marking the highest quarterly total since 2009 and the third-largest since tracking began in 1987. Filings also rose 3.3% from the previous quarter. Wesley Cowan, licensed insolvency trustee and vice chair of CAIRP says these numbers reflect real financial pain affecting Canadian households.

A proposed $3-million settlement has been reached against several former “directors and officers” at Laurentian University for the “alleged misuse and depletion” of the university’s retiree health benefit funds, leading to their cancellation during Laurentian’s insolvency, Sudbury.com reported. The directors and officers in question include several former presidents and senior administrators at Laurentian, including several who weren’t even around during Laurentian’s 2021-2022 insolvency restructuring, as well as some former board of governors members.

When Patrick O’Connell picks up the phone these days to help Prince Edward Islanders in financial distress, he’s hearing a familiar concern: the rising cost of living, which is driving people deeper into debt, CBC.ca reported. O'Connell, a licensed insolvency trustee for P.E.I. with Allan Marshall & Associates, said many of the Islanders he speaks with are struggling to make ends meet as everyday expenses continue to climb. He said last month was the busiest his firm has ever been on the Island, handling more insolvency files on P.E.I. than ever before.

President Trump’s tariffs are starting to take a big bite out of Canada’s economy, the Wall Street Journal reported. The U.S.’s second-largest trading partner is flirting with recession, unemployment has risen to its worst non-pandemic levels in almost a decade, and business investment has stalled. A country that sends three-quarters of its exports to the U.S., Canada has proven uniquely vulnerable to Trump’s tariffs on automobiles, steel, aluminum and lumber. Prime Minister Mark Carney has said the U.S.