Fracmaster granted bankruptcy protection
Article Abstract:
Fracmaster Ltd, an oil field services firm based in Calgary, Canada, has been granted bankruptcy protection, citing the firm's failure to pay its C$7.5-million debt due on Mar 18, 1999. The firm's filing showed that its total debt amounted C$116 million and it presently owes suppliers over C$17 million. In the 1st qtr of 1999, Fracmaster, which filed its affidavit with Alberta Court of Queen's Bench, incurred a cash flow shortfall of C$5 million.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Isautier appointed CEO of Hurricane
Article Abstract:
Hurricane Hydrocarbons Ltd, which has been operating without a CEO for half a year, has named Bernard Isautier as its new CEO, who aims to pull the company out from bankruptcy protection and join forces wiht Shymkent oil refinery in the former Soviet republic of Kazakstan. Hurricane's new plan to restructure its C$200-million debts into three payments is awaiting approval from its creditors.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Air Canada out of bankruptcy protection: Past may weigh on stock price of new ACE. Air Canada to fight hostile motions
- Abstracts: Daimler plant pullout turns up heat on Ottawa. Chrysler's Lasorda warns of tough cuts amid woes. Daimler cutting back output plans for propsed Ont. plant
- Abstracts: Tax lobbyists already mobilizing. Manley warns economy will fall short of forecast. GST jump stumps Ottawa
- Abstracts: Analysts expect $1-billion in new stock sales. Jet sales put Bombardier back in black. Tax benefit helps lift CIBC stock
- Abstracts: Ottawa urged to restrict cheap import of steel. Proposal on steel dumping held up. Beef set to flow across border