Valeant Pharmaceuticals International Inc. has moved a step closer to getting a default waived and loosening restrictions on its loan pact after offering more money to its lenders, according to people with knowledge of the matter, Bloomberg News reported. To win creditors over, the company is boosting the interest on its term loans by one percentage-point, with the new rate set to stay in place for at least a year, said the people, who asked not to be identified as the information isn’t public.

Valeant Pharmaceuticals International Inc's directors and key officers have received a cease-trade order by the securities regulator in the Canadian province of Quebec, on the company's request, Valeant said on Thursday, Reuters reported. In a separate statement, the Autorité Des Marches Financiers (AMF) said the order against trading shares takes effect Thursday and is in place for 15 days. Included in the order are Chief Executive Mike Pearson, Chief Financial Officer Robert Rosiello and board member Bill Ackman.

Valeant Pharmaceuticals International Inc. said Wednesday it was seeking more room from lenders to stave off a potential default. But stock investors were unnerved, as Valeant inched back from earlier assurances about its ability to hit financial targets required by its lenders, The Wall Street Journal reported. The Canadian drug company, struggling in recent months with questions over its accounting and business practices, said it had begun seeking a deal with lenders to give it more time to file its delayed 10-K annual report.

Abengoa SA has filed for bankruptcy protection in the U.S. as the Spanish energy company continues talks with its banks and bondholders to agree on its plan to restructure billions of dollars in debt, The Wall Street Journal reported. The renewable energy company, which operates around the world, on Monday night filed for chapter 15 protection, the section of the U.S. bankruptcy code dealing with cross-border insolvencies, in U.S. Bankruptcy Court in Wilmington, Del. The bankruptcy filing comes after Abengoa struck a deal with key creditors that gives it more time—through Oct.

Canadian gold miner Rubicon Minerals Corp said there was significant doubt about its ability to continue as a going concern after it breached a loan covenant, Reuters reported. Rubicon, which suffered a major setback in January when it had to cut the gold reserve estimate for its Phoenix mine in Ontario by 86 percent, said it continues to evaluate strategic options and that it was in talks with lenders.

Canadian junior oil and gas producer Terra Energy Corp said it shut down production, ceased operations and announced the resignation of directors and officers on Monday, after its lender, Canadian Western Bank, demanded full repayment of its debt, Reuters reported. Terra, which was producing around 3,600 barrels of oil equivalent per day from its operations in western Alberta and north-eastern British Columbia, said that at current low oil prices the cost of operating was more than its revenue.

Valeant Pharmaceuticals cut its 2016 revenue forecast by about 12 per cent on Tuesday and said a delay in filing its annual report could pose a debt default risk, causing its shares to plunge, the Irish Times reported. The Canadian drugmaker, the target of US investigations into its business and accounting practices, reiterated that it would put off filing its annual report with US regulators but for the first time raised the spectre of a default.

Worldview Capital, the dissident shareholder in Petroceltic International that has battled its board for more than a year, has emerged in prime position to gain control of the troubled exploration company after doing a deal with its banks to buy a majority of its $232 million debts, the Irish Times reported. The Cayman Islands-registered fund, run by former investment banker Angelo Moskov, has told the stock market it bought has 69.44 per cent of the senior debt at at “a significant discount to face value”.

Ontario Superior Court Justice Herman Wilton-Siegel has handed down a long-awaited ruling in the bankruptcy proceedings surrounding U.S. Steel Canada, Canadian Manufacturing reported. The court battle centred on more than $2 billion in loans paid by Pittsburgh-based U.S. Steel to its then subsidiary USS Canada following the Stelco acquisition in 2007. The government of Ontario and the United Steelworkers union have maintained the funds were extended to USS’s Canadian operation as “equity” rather than debt, while USS has said it expected the funds to be repaid.

Google moved €10.7 billion through the Netherlands to Bermuda in 2014, as part of a structure which allows it to earn most of its foreign income tax free, the Irish Times reported. Accounts for Google Netherlands Holdings published on Thursday show the unit transferred almost all its revenue, mainly royalties from an Irish affiliate through which most non-US. revenue is channelled, to a Bermuda-based, Irish-registered affiliate called Google Ireland Holdings. The tax strategy is known to accountants as the “double Irish, Dutch Sandwich’.