When Canada disbursed billions of dollars in the auto-sector bailout nearly half a decade ago, it did so without reviewing the automakers’ final restructuring plans and with limited research on how the loans would be repaid, a government watchdog says, The Wall Street Journal Canada Real Time blog reported. Canada’s Auditor General, the equivalent of the U.S. General Accountability Office, highlighted the flaws in the government’s approach to providing the funds to General Motors Co.’s Canadian unit and Chrysler Canada in a report Tuesday.

Lawyers representing the provincial government took centre stage at U.S. Steel Canada’s restructuring hearing on Thursday, as the court worked toward figuring out who should gets paid first if the company is sold or goes bankrupt. The province won the right to file future claims against U.S. Steel Canada during its restructuring, while also successfully arguing the court will be allowed to examine the American parent's claim when it comes time to decide who what piece of the proceeds or assets. U.S.

The small Caribbean island of Grenada offers a salutary lesson on the dangers of loading up with debt for governments tempted by easy money, the Financial Times reported. Since defaulting on close to $200m of international bonds in 2013, Grenada has been trying to negotiate a restructuring deal with its creditors. Now, according to sources close to the discussions, a deal may be approaching following meetings between the government and its creditors in Washington last month. But Grenada’s debt woes go far beyond the hundreds of millions it owes in US dollar bonds.

Lawyers representing the provincial government took centre stage at U.S. Steel Canada’s restructuring hearing on Thursday, as the court worked toward figuring out who should gets paid first if the company is sold or goes bankrupt, CBC News reported. The province won the right to file future claims against U.S. Steel Canada during its restructuring, while also successfully arguing the court will be allowed to examine the American parent's claim when it comes time to decide who what piece of the proceeds or assets. U.S.

No one expects Mexico to restructure its debt anytime soon. But if it ever does, so-called vulture investors like Mr. Singer’s Elliott Management will find it much harder to crash the debt restructuring party – as they have done so successfully in Argentina – thanks to tough new provisions written into the contracts of new bond issues for the country, the International New York Times DealBook blog reported.

On the eve of a multibillion-dollar settlement with six giant banks suspected of manipulating the foreign currency market, regulators in Washington and Britain have encountered a last-second complication: One of the banks may drop out of the deal, the International New York Times DealBook blog reported. The giant British bank Barclays has yet to commit to settling, according to people briefed on the matter, even as the window of opportunity closes.

Seven years after the global financial crisis started, Canada’s banks remain selective in what they disclose – a problem illustrated by Ottawa’s recent crackdown on credit-card transaction fees, The Globe and Mail reported. Despite being one of the banking sector’s most widely discussed issues, with lenders lobbying Ottawa furiously out of fear that any ruling would be too harsh, the average investor had almost no way of calculating how many millions or billions of dollars were at stake.

Engineering and construction company SNC-Lavalin Group Inc. on Thursday said it would cut 4,000 jobs and record significant charges over the next 18 months as part of a restructuring aimed partly at combating a global slowdown in mining, The Wall Street Journal reported. Montreal-based SNC said it plans to scale back some underperforming activities and its corporate structure in a bid to improve efficiency and bolster its competitive position.

Prospective LNG exporter AltaGas Ltd. of Calgary said Monday it plans to double its asset base from $7.5 billion to $15 billion by 2019. At an investor day webcast from Toronto, executives said AltaGas plans to expand its utility and power operations but most of the growth will be in its ability to handle and export western Canadian natural gas from prolific shale plays in northeastern B.C. and northwestern Alberta.

U.S. Steel is indefinitely idling its coke-making operations in Hamilton as it restructures the company and looks for a potential buyer — part of what a union head calls a piece-by-piece dismantling of the plant, CBC.ca reported. The company is “hot idling” the coke battery, which means it won’t be used after Nov. 1 but will remain prepped for future use. About 100 workers are affected, said Rolf Gerstenberger, president of the United Steelworkers Local 1005. Some will be reassigned to other duties, while others may be laid off.