Canada

Taiga Seeks Bankruptcy Protection

The ongoing struggles faced by Quebec-based Taiga Motors as it tries to become an electric snowmobile and personal watercraft pioneer hit another snag when the company filed for the equivalent of bankruptcy protection in Canada, Power Sports Business reported. The June 10, 2024, filing under the Canadian Companies Creditors Arrangement Act is similar to a chapter 11 bankruptcy filing in the U.S., so the company is seeking protection from creditors while continuing its operations and operating under its court-appointed trustee, Deloitte Restructuring Inc.

Canada
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Canadian-Owned Venezia Averted Insolvency, All Thanks to Drake

In a story that reads like the script of a Hollywood film, one of the world’s most famous musicians, Canadian rapper Drake, emerged as the unlikely hero for an Italian club on the brink of financial collapse, World Soccer Talk reported. Venezia, a club steeped in history but battling financial turmoil, found an unexpected lifeline in Drake. His intervention was crucial in saving the club from bankruptcy and ensuring its survival. The Winged Lions, based in the iconic city of Venice, experienced a rollercoaster ride in recent years.

Italy
Canada
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