Canada Jetlines has announced an immediate halt to all flights and the temporary suspension of its operations due to a lack of necessary financing, Proactive Investors reported. The airline plans to file for creditor protection and has advised passengers with existing bookings to seek refunds through their credit card companies. The news comes following the recent resignation of four key executives, including CEO Brigitte Goersch.

Former Montreal Canadiens player Steve Bégin announced Thursday that he must declare bankruptcy, the Montréal Gazette reported. The 46-year-old former hockey player confirmed the news in a Facebook post. “The civil engineering company in which I had been offered to invest significant sums of money since 2013 went bankrupt, which had negative repercussions on my financial situation and consequently also caused a bankruptcy. I could have tried to avoid the subject, but I chose to talk about it openly, because I believe there are lessons to be learned,” he wrote.

Toronto-based Sampler has filed for bankruptcy, BetaKit reported. The digital product-sampling startup filed an assignment of bankruptcy on June 27 and held its first meeting of creditors on July 22, according to documents BetaKit obtained from Canada’s Office of the Superintendent of Bankruptcy. At the date of filing, Sampler had total liabilities of $12.9 million and total assets of more than $300,000. Sampler matches packaged goods companies with consumers who receive packages of free samples by mail.

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.

A group of senior Biden administration officials is traveling to Shanghai this week for a round of high-level meetings intended to keep the economic relationship between the U.S. and China on stable footing amid mounting trade tensions between the two countries, the New York Times reported. The talks will take place on Thursday and Friday and are being convened through the U.S.-China Financial Working Group, which was created last year.

SG Investments, America, Inc., the U.S. subsidiary of German-based manufacturer Dürkopp Adler (DA), has acquired ICON Aircraft assets — the result of a chapter 11 § 363 sale in ICON’s chapter 11 case filed in the U.S. Bankruptcy Court for the District of Delaware, according to a Procopio press release. Procopio Restructuring and Bankruptcy Partner William Smelko represented DA in the transaction with the assistance of Procopio’s Asia Pacific team. Local Delaware Counsel Evan Miller of Saul, Ewing also assisted SG in acquiring the assets.

Mexican steelmaker Altos Hornos de México (Ahmsa) announced that it will enter bankruptcy after failing to reach an agreement with creditors, although it continues to work to attract investors to capitalize the company, Bnamericas reported. A second 90-day extension period to negotiate with creditors to end the bankruptcy proceedings came to an end on August 4 without sufficient agreements being hammered out on the sums owed by the firm.