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Morning Update: A former child star’s $144-million real estate crash
269 Kimberly, Timmins, ON
canada
How former child TV star Robby Clark’s crumbling real estate empire has left hundreds of private lenders on the hook
report on business
Flirting with insolvency, Slate Office REIT sees board battle erupt between executives and activist investor
<div>Units in Slate Office REIT fell nearly 20 per cent after the trust suspended its monthly cash distributions and announced a plan to sell a large part of its portfolio of properties. Office towers, hotels and condos are seen in downtown Vancouver, Sunday, Oct. 25, 2020. THE CANADIAN PRESS/Darryl Dyck</div>
report on business
Electric snowmobile maker Taiga files for protection under CCAA
The Taiga performance team takes their Nomad Utility Snowmobile, 100% electric, out on the trail in Saint-Faustin-Lac-Carre, Quebec March 2, 2023. (Christinne Muschi /The Globe and Mail)
world
U.S. judge may end Giuliani bankruptcy, exposing ex-Trump lawyer to lawsuits
FILE - Former New York Mayor Rudy Giuliani talks to reporters as he leaves the federal courthouse in Washington, Dec. 11, 2023. A judge said Wednesday, July 10, 2024, he was leaning toward throwing out Giuliani's bankruptcy case after lawyers and his biggest creditors agreed this was the best way forward. (AP Photo/Jose Luis Magana, File)
report on business
Ontario judge authorizes sales process for The Body Shop Canada
The exterior of a Toronto Body Shop store is seen on Monday, March 4, 2024. The Body Shop Canada will ask an Ontario court Friday to authorize a sale and investor solicitation process. The cosmetics company sought creditor protection earlier this year because its parent company, a European private equity firm, stripped it of cash and pushed it into debt, forcing it to close some stores. THE CANADIAN PRESS/Chris Young
report on business
Hudson’s Bay Co. to buy Neiman Marcus with help from Amazon, report says
The Neiman Marcus store is seen during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 19, 2020. REUTERS/Jeenah Moon
world
Georgia election workers who won $148-million judgment against Giuliani want his bankruptcy case thrown out
FILE - Rudy Giuliani speaks during a news conference outside federal court in Washington, Dec. 15, 2023. Giuliani's creditors, including the two former Georgia election workers who won a $148 million defamation judgment against him, are opposing his attempt to convert his bankruptcy into a liquidation, saying they'll likely ask that the case be thrown out instead because of what they call his flouting of bankruptcy laws. (AP Photo/Jose Luis Magana, File)
international business
Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protection
The original Chicken Soup for The Soul book Jacket
report on business
Bid to sell insolvent newspaper chain in Atlantic Canada reaches critical phase
Newspapers owned by SaltWire Network Inc. are photographed in Halifax on Tuesday, March 12, 2024. A Nova Scotia judge was greeted with good news today when he received an update on the proposed sale of the SaltWire Network and The Halifax Herald, the two financially troubled companies that operate Atlantic Canada's largest newspaper chain. THE CANADIAN PRESS/Darren Calabrese
report on business
Canadian business and consumer insolvencies rose in May from last year
A pedestrian walks past an empty store front in Montreal, Wednesday, Jan. 29, 2020. THE CANADIAN PRESS/Ryan Remiorz
international business
Fisker to recall more than 12,000 Ocean vehicles in U.S., Canada and Europe over door handle issue
FILE PHOTO: The Fisker logo is shown on the back of a Fisker Ocean electric SUV vehicle at one of the company’s sales, service ands delivery centers in Vista, California, U.S., May 22, 2024. REUTERS/Mike Blake/File Photo/File Photo
world
Judge stops parents’ effort to collect on US$50-million Alex Jones owes for saying Newtown shooting was hoax
FILE - Neil Heslin, father of 6-year-old Sandy Hook shooting victim Jesse Lewis, becomes emotional during his testimony during the trial for Alex Jones, Aug. 2, 2022, at the Travis County Courthouse in Austin. A federal bankruptcy judge on Thursday, June 27, 2024, stopped an effort by Heslin and Scarlett Lewis to collect on some of the $50 million owed to them by conspiracy theorist Alex Jones and his company for his claims that the massacre was a hoax. (Briana Sanchez/Austin American-Statesman via AP, Pool, File)
u.s. business
U.S. Supreme Court rejects nationwide opioid settlement with OxyContin maker Purdue Pharma
FILE PHOTO: A pharmacist holds a bottle OxyContin made by Purdue Pharma at a pharmacy in Provo, Utah, U.S., May 9, 2019. REUTERS/George Frey/File Photo
real estate
New homes to rise out of ashes of collapsed builder Stateview
A rendering of Canterbury Lanes, a 48-unit townhouse project in King City, Ont. by Camcos Living. Credit: Camcos Living
report on business
Slate Office REIT defaults on debt, complicating the troubled property owner’s restructuring plans
<div>Units in Slate Office REIT fell nearly 20 per cent after the trust suspended its monthly cash distributions and announced a plan to sell a large part of its portfolio of properties. Office towers, hotels and condos are seen in downtown Vancouver, Sunday, Oct. 25, 2020. THE CANADIAN PRESS/Darryl Dyck</div>
international business
FTX seeks creditor votes on bankruptcy wind-down payments
FILE PHOTO: FTX logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
world
Alex Jones bankruptcy trustee plans to wind down Infowars
Alex Jones speaks to the media after arriving at the federal courthouse for a hearing in front of a bankruptcy judge, June 14, 2024, in Houston. A U.S. bankruptcy court trustee is planning to shut down Jones' Infowars media platform and liquidate its assets to help pay the $1.5 billion in lawsuit judgments Jones owes for repeatedly calling the 2012 Sandy Hook Elementary School shooting a hoax. (AP Photo/David J. Phillip, file)
report on business
Businesses owe $19.4-billion in unpaid sales tax, Canada Revenue Agency says
The Canada Revenue Agency (CRA) headquarters Connaught Building is pictured in Ottawa on Monday, Aug. 17, 2020. The Canada Revenue Agency (CRA) has filed an unfair labour practices complaint against the union representing taxation employees, claiming it is not bargaining in good faith. THE CANADIAN PRESS/Sean Kilpatrick
hockey
NHL, NHLPA announce multiyear agreement with Bodyarmor to be league’s official sports drink
The NHL's plan appears robust and detailed. Once players enter so-called "bubbles" in two hub cities later this month as part of the league's plan to resuscitate its pandemic-halted season, teams should -- in theory -- be fairly well-protected from the threat of COVID-19. The NHL logo is seen on a goal at a Nashville Predators practice rink in Nashville, Tenn. on Sept. 17, 2012. THE CANADIAN PRESS/AP/Mark Humphrey
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