Loading ...Posts Tagged ‘bankruptcy’
NB: Province gives Fraser Papers new lease on life
[PLASTER ROCK, NB] — CBC News is reporting that the New Brunswick government now has an equity stake in the struggling Fraser Papers and is giving it more time to rebound. For more information, read the story at: http://www.cbc.ca/canada/new-brunswick/story/2009/12/08/nb-fraser-papers-share-809.html More
NL: Fishermen threaten to keep ships ashore
[CORNER BROOK, NL] — If the fishermen of this province don’t receive a reasonable price for their product next year, the industry will see an all-time low in participation. The fishermen under the Fish, Food and Allied Workers Union passed a resolution at the union convention in Gander this past week to stay off the waters [...] More
NS: Hawboldt’s confirms bankruptcy rumours
[WINDSOR, NS] — A new sign posted on the door of the Hawboldt’s Cedar Street store clears up any recent confusion. “Hawboldt’s Furniture is closed,” the sign reads and inquiries are directed to receivers, Green Hunt Wedlake. Vice-president Robert Hunt, confirmed the news on Monday: “The company is bankrupt … it is in receivership.” More
PE: Government defends loans to Thermoform
[BORDEN-CARLETON, PE] — The minister in charge of P.E.I. Business Development Inc. is defending provincial government involvement in a local business after its bankruptcy. Quality Thermoform, located in the former Strait Crossing office in Borden-Carleton, recently filed for bankruptcy. A mortgage sale of its remaining assets will be held Friday in a Summerside court. More
PE: Wind firm gets blow off
[CHARLOTTETOWN, PE] — A P.E.I. wind turbine maker will be forced into bankruptcy after failing in its bid to get a further extension to get its fiscal house in order, The Guardian has learned. More
PE: Wind turbine company escapes axe
[CHARLOTTETOWN, PE] — CBC News is reporting that Entegrity Wind Systems of P.E.I. is safe… for now. The company has been given more time to finish financial restructuring and avoid bankruptcy. For more information, read the story at: http://www.cbc.ca/canada/prince-edward-island/story/2009/09/29/pei-entegrity-bankruptcy-reprieve.html More
PE: Future of turbine maker in hands of Supreme Court
[CHARLOTTETOWN, PE] - The future of a financially troubled Island turbine-maker is now in the hands of a justice with the Supreme Court. Entegrity Wind Systems owes more than $3 million to Mercantile Finance Services, a Toronto-based bank. That bank went before Justice Benjamin Taylor on Wednesday calling on the courts to name a court—appointed [...] More
PE: Prominent potato-farming family going bust
[PISQUID, PE] - CBC News is reporting that the long-established Hendricken family farm in Pisquid is now about $2.5 million in debt, with bankruptcy protection recently removed by the farm debt review board. For more information, read the story at http://www.cbc.ca/canada/prince-edward-island/story/2009/07/27/pei-tp-hendricken-bankruyptcy.html More
NL: Bankrupt golf course opens, players get green fee break
[CORNER BROOK, NL] - It is official: the golf course at Humber Valley Resort will open for play Saturday under the experienced eye of Gary Oke. Oke had been waiting on the final word from Ernst and Young, the firm appointed to manage the bankrupt resort’s assets, but had already publicly stated a plan was in [...] More
NS: Wallboard plant needs new approach, says chamber
[POINT TUPPER, NS] — If there is a fourth attempt to produce wallboard at a shuttered plant here, a local business leader says he hopes it will be clear what will be done differently to ensure that the venture will be a success. Efforts are currently underway by Nova Scotia Business Inc. to seek a new [...] More
PE: Fed of Ag want registration rules enforced
[CHARLOTTETOWN, PE] - The P.E.I. Federation of Agriculture says it is disappointed with Agriculture Minister George Webster and government for refusing to enforce the farm registration regulations in this province which ensure stable funding for farm organizations. Webster said last week that if farmers have to pay this fee “… it could be the straw [...] More
AbitibiBowater could beat NL gov’t in court: Political scientist
[ST. JOHN’S, NL] - They talked about it, threatened with it, and now AbitibiBowater has taken the first step: calling on the new “holy grail” of trade. The paper giant unleashed the power of the North American Free Trade Agreement by filing its Notice of Intent to Submit a Claim to Arbitration in relation to [...] More
