Native company sues ATB for $13.7-million

Article Abstract:

Ermineskin Tribal Enterprises has sued Alberta Treasury Branches (ATB) for ATB's rejection of its proposal to take over the Eau Claire mall in Calgary. Ermineskin claimed that it had proposed to ATB that it participate in the refinancing of Eau Claire in May 1999. ATB rejected Ermineskin's offer and instead chose MP Acquisitions Ltd to assume control of Eau Claire. Ermineskin claims that ATB was its main banker and its rejection of its offer to participate in Eau Claire was tantamount to a 'discriminatory' decision that caused it to incur financial damages.

Land Subdivision and Land Development, Legal issues & crime, Shopping Center Developers, Alberta Treasury Branches, Ermineskin Tribal Enterprises Ltd.

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Big Bear to file for CCAA protection

Article Abstract:

Big Bear Exploration Ltd announced that it intends to file for protection under the Companies' Creditors Arrangement Act in order for it to execute its reorganization plan. The petition for protection will also be made to reschedule its payments to creditors. Big Bear had completed a month ago its acquisition of Blue Range Resource Corp. Its share price has dropped 92% in the past 3 1/2 months.

Strategy & planning, Oil and Gas Extraction, Oil & Gas Extraction, Big Bear Exploration Ltd.

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