Mexican homebuilder Urbi said on Monday it expects to generate income worth roughly 1.9 billion pesos ($103.08 million) in the 12 months following its latest cash injection, and 29 billion pesos ($1.57 billion) over the next five years, Reuters reported. In May, Urbi, which was forced to restructure its outsize debt load after sales of its cheap, single-unit homes slumped, said it got a capital injection of 886.8 million pesos that will allow it to resume operations.

The latest figures show that Alberta's insolvency rate has climbed dramatically since a year ago compared to the national rate, CBC News reported. The total number of insolvencies — bankruptcies and consumer proposals — filed by individuals increased 52.8 per cent from April 2015 to April 2016 in Alberta, according to the Office of the Superintendent of Bankruptcy Canada. Across the country, the number of insolvencies was up 4.9 per cent over the same period.

Struggling Mexican construction company Empresas ICA SAB said Friday it has secured a $215 million loan to fund current and future work as it outlined a plan to become a much leaner company, The Wall Street Journal reported. ICA, which has $1.35 billion in bonds, missed interest payments late last year and early this year and is in the process of debt restructuring. The company ran into financial difficulties the past two years as earnings fell at its construction division and the depreciation of the Mexican peso led to problems meeting its dollar-denominated debt obligations.

Struggling Mexican construction company Empresas ICA SAB said Friday it has secured a $215 million loan to fund current and future work as it outlined a plan to become a much leaner company, The Wall Street Journal reported. ICA, which has $1.35 billion in bonds, missed interest payments late last year and early this year and is in the process of debt restructuring. The company ran into financial difficulties the past two years as earnings fell at its construction division and the depreciation of the Mexican peso led to problems meeting its dollar-denominated debt obligations.

Buoyed by an improving steel market, Essar Steel Algoma is now hinting it may be healthy enough to emerge from insolvency protection without a new buyer or outside investment, SooToday.com reported. In addition to reviewing bids from prospective purchasers, company officials "have been evaluating other potential restructuring alternatives, including a potential replacement [debtor-in-possession financing] and a standalone restructuring plan," Rajat Marwah, Essar Algoma’s chief financial officer, said in a sworn affidavit.

In a sign of the scramble it’s become to secure financing in Canada’s energy patch, lenders are revising one company’s debt repayment deadline daily, Bloomberg News reported. For the third straight day, Twin Butte Energy Ltd.’s bankers on Thursday agreed to extend the deadline to repay a C$85 million ($65 million) loan and ability to access its C$140 million existing revolving credit line, the company said in a statement.

A junior oil and gas company in Calgary is blaming an order aimed at protecting a rare Prairie bird for its insolvency, CTV News reported. LGX Oil + Gas says its daily operations and drilling plans were significantly disrupted when an emergency order under the federal Species At Risk Act took effect in February 2014 to protect the greater sage-grouse. The company's Manyberries oilfields in Alberta were subject to that order.

Lawyers in Canada's energy capital Calgary warned on Friday that a judge's decision to grant lenders priority over environmental clean-up costs in oil and gas bankruptcies could lead to a surge in orphaned wells in Alberta, Reuters reported. An Alberta chief justice ruled this week that proceeds from the sale of assets belonging to junior producer Redwater Energy Corp will go first to secured creditors, rather than towards cleaning up the company's inactive oil and gas wells.

Hudson's Bay Co. of Canada will expand in Europe by taking over 20 department stores in the Netherlands, it said on Tuesday, Reuters reported. It is in the final stage of talks about leasing prime locations of the oldest Dutch department store chain V&D, which went bankrupt in December. The Canadian company reported retail sales of C$4.49 billion in its most recent quarter, up from C$2.63 billion a year earlier, helped by its 2.8 billion euro acquisition of German department store operator Kaufhof.

Junior oil sands producer Connacher Oil and Gas Ltd filed for protection from creditors at an Alberta court on Monday, making it the latest Canadian victim of the two-year slump in global crude prices, Reuters reported. The Calgary-based company said depressed oil prices and difficulties accessing capital markets had prompted directors to seek protection under the Companies' Creditors Arrangement Act (CCAA).