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lenders

Ontario court approves sales process for Red Lobster Canada

by Anas Siddiqui
Ontario court approves sales process for Red Lobster Canada

Toronto An Ontario court has approved a sales process and stalking horse bid for Red Lobster Canada, which is operating under court protection from creditors. Court filings say move meant …

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HSBC, DBS Hong Kong stand pat on interest rates as wait for borrowing-cost relief extends

by Anas Siddiqui
HSBC, DBS Hong Kong stand pat on interest rates as wait for borrowing-cost relief extends

HSBC, Hong Kong’s biggest note-issuing bank, and DBS Hong Kong will keep their key lending and deposit rates unchanged, meaning mortgage borrowers and companies face a longer wait for relief …

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Mortgage debt is growing at its slowest pace in 23 years — but that could be short-lived, says CMHC

by Anas Siddiqui
Mortgage debt is growing at its slowest pace in 23 years — but that could be short-lived, says CMHC

Mortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the Bank of Canada’s key interest rate — but the slowdown likely …

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NCLT okays Metalysts Forgings’ acquisition by Deccan value-led group

by Horatio Thompson
NCLT okays Metalysts Forgings’ acquisition by Deccan value-led group

After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the …

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Liberals pledge $9B in new money for Indigenous communities in 2024 budget

by Anas Siddiqui
Liberals pledge B in new money for Indigenous communities in 2024 budget

The Trudeau government is promising $9 billion in new cash for Indigenous communities over the next five years, a smaller spend than some past budgets but one the government says builds …

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Vice Media to halt publishing to namesake site, cut ‘several hundred’ jobs in restructuring

by Anas Siddiqui
Vice Media to halt publishing to namesake site, cut ‘several hundred’ jobs in restructuring

The head of Vice Media Group has informed employees that the company will stop publishing content on Vice.com and will be cutting “several hundred” positions. A memo from Vice CEO Bruce Dixon, which …

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Trump was ordered to pay $355 million US. What happens if he doesn’t?

by Walter Watson
Trump was ordered to pay 5 million US. What happens if he doesn’t?

Donald Trump has been ordered to pay $354.9 million US in penalties for fraudulently overstating his net worth to dupe lenders, a New York judge ruled on Friday. It’s the …

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Trump has been ordered to pay $355 million US. What happens if he doesn’t?

by Walter Watson
Trump was ordered to pay 5 million US. What happens if he doesn’t?

Donald Trump has been ordered to pay $354.9 million US in penalties for fraudulently overstating his net worth to dupe lenders, a New York judge ruled on Friday. It’s the …

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Trump must pay $355M for overstating net worth to dupe lenders, NY judge rules in civil fraud case

by Walter Watson
Trump must pay 5M for overstating net worth to dupe lenders, NY judge rules in civil fraud case

Donald Trump must pay $354.9 million US in penalties for fraudulently overstating his net worth to dupe lenders, a New York judge ruled on Friday, handing the former U.S. president …

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A wave of defaults has real estate lawyers urging presale buyers to be cautious

by Anas Siddiqui
A wave of defaults has real estate lawyers urging presale buyers to be cautious

In 2021, Sudip Sehgall put down an $81,990 deposit on a yet-to-be-built townhouse in Surrey, B.C. While it was under construction, he occasionally visited the site to watch it grow. …

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