Canadian Finance Minister Jim Flaherty said he will revamp oversight of the country's dominant mortgage insurer, Canada Mortgage and Housing Corp., by handing over day-to-day supervision of its commercial activities to Canada's bank regulator, Dow Jones reported. Under changes outlined in legislation introduced Thursday, the federal finance minister will also obtain legislative and regulatory authority over CMHC's securitization program and any new commercial programs the housing agency wishes to launch.

When Maclaren USA entered bankruptcy in December, its Chapter 7 filing made for a lot more questions about what the company was doing in bankruptcy than it provided answers—questions that have remained largely unanswered since, The Wall Street Journal Bankruptcy Beat blog reported. Why did sales drop so drastically in 2011, to $34,251 from over $20 million in 2010? Does Maclaren, the U.K.-based company that manufactures the strollers and other products, plan to continue selling in the U.S.?

Elpida Memory Inc.’s bankruptcy is fueling concern the company could be a burden to an acquirer, with shares of SK Hynix Inc. and Micron Technology Inc. declining on takeover speculation, Bloomberg Businessweek reported. Investors aren’t keen on a full or partial takeover by Hynix or Micron because “they would need funds to buy Elpida’s assets, and even after an acquisition, they would need a lot of money to keep operations going,” said Yuichi Ishida, a Tokyo-based analyst at Mizuho Investors Securities Co.

International Monetary Fund staff said Tuesday governments should consider mandatory debt restructuring for systemically important banks as part of a policy tool set to prevent new financial crises, Dow Jones reported. By instituting a so-called bail-in rule, governments could prevent the type of excessive risk-taking and market disruptions that fueled the 2008-2009 global financial meltdown, senior IMF economists said in a new discussion paper.

BlackBerry maker Research In Motion has hired law firm Milbank, Tweed, Hadley & McCloy LLP to work out a restructuring plan that could include selling assets, seeking joint ventures or licensing patents, people briefed on the matter said, Reuters reported. As part of the struggling Canadian smartphone maker's strategic review, the RIM board is discussing ways to boost revenue from its new BlackBerry 10 operating system and possibly opening up its proprietary network, the sources said.

Canada will pledge funds to the International Monetary Fund in the event countries outside the euro zone require a bailout, but it is of the view Europe has adequate resources to deal with its debt crisis, Finance Minister Jim Flaherty said Friday, Dow Jones reported. He said Europe should "step up to the plate" and "overwhelm" the issue with its own resources. Canada and the U.S. have declined to commit resources to the IMF "at this time," as the Fund has adequate resources to deal with any imminent requirements.

Three Sino-Forest Corp. executives were fired by the insolvent Chinese timber firm and the company’s co-founder and chief financial officer both resigned, in a prelude to formal allegations expected to be laid by the Ontario Securities Commission, The Globe and Mail reported. Allen Chan, the Hong Kong national who co-founded Sino-Forest two decades ago and helped build what was once the largest forestry company on the TSX, resigned as “founding chairman emeritus” and an employee, the company said in a statement. Mr.

The world’s 20 biggest economies are likely to agree to increase the resources of the International Monetary Fund by between $400 billion and $500 billion (€306 billion and €382 billion), rather than the $600 billion initially sought by the fund, Group of 20 officials have said, the Irish Times reported. The extra money is to give the fund, a lender of last resort to governments, more fire-power to fight the sovereign debt crisis, triggered by unsustainable policies in euro zone countries such as Greece, Portugal and Ireland.

Insolvent Nortel Networks Corp. has been granted a stay of proceedings until July under court surpervised creditor protection to allow the company to continue with its restructuring activities. The now defunct company said Friday that the Ontario Superior Court of Justice has granted Nortel and its subsidiaries an extension under the Companies' Creditors Arrangement Act until July 31, CanadianBusiness.com reported on a Canadian Press story. Nortel's court protection has been extended several times.

Sino-Forest Corp has asked a Canadian court to extend creditor protection granted to the Chinese forestry company last month until July 9, saying it would create certainty for potential buyers considering a bid for its assets, Reuters reported. The Ontario Superior Court's current order of protection under Canada's Companies' Creditors Arrangement Act expires April 29. The company, accused of fraudulently exaggerating its assets, said the allegations had paralyzed its business. Sino-Forest's Toronto-listed shares tanked last June after a short-seller made allegations against it.