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Atlantic newspaper owner SaltWire faces insolvency after lender files claim

Atlantic newspaper owner Saltwire faces insolvency

Fiera Private Debt Fund said in the filings that senior management of the company has mismanaged the business, used employee pension funds for operations and failed to remit HST.

Atlantic newspaper owner Saltwire faces insolvency after lender files claim

SaltWire seeks creditor protection

A private equity fund is initiating insolvency proceedings against Atlantic newspaper owner SaltWire Network Inc., claiming it owes tens of millions of dollars after several years of mismanagement.

Redwater Reigns: SKCA Affirms Redwater's Applicability After Failed CCAA

The Saskatchewan Court of Appeal has confirmed that the Supreme Court of Canada s decision in Orphan Well Association v. Grant Thornton Ltd, 2019 SCC 5 [Redwater], applies in Saskatchewan. The Court of Appeal also affirmed that orders made in failed proceedings in Alberta under the Companies Creditors Arrangement Act did not have effect in subsequent receivership proceedings in Saskatchewan. The Court held that the CCAA proceedings did not impose payment obligations on Bow River outside of the statutory requirements already present. Additionally, the CCAA proceedings did not establish a trust that favored the Rural Municipalities.