Low-cost carrier has only three aircraft left after returning 10 jets to lessors and chose a local restructuring process rather than US Chapter 11

LaSalle College, a private institution in Montreal, has filed for creditor protection in Quebec Superior Court amid nearly $48 million in debt to the Quebec government. The financial burden stems from over $29 million in penalties for exceeding English-language student quotas under Quebec’s French-language legislation and $17.9 million in overpaid subsidies. The college argues the penalties are unfair, claiming students were legally admitted with required authorizations. The court granted a 10-day protection period for negotiations with the provincial government. Classes remain suspended until subsidies are restored, as the fines have led to a 1,000-student shortfall due to enrollment restrictions. The Higher Education Ministry attributes the fines to LaSalle exceeding quotas by 716 students in 2023-24 and 1,066 in 2024-25. The college’s director, Claude Marchand, called the penalties 'unfair and unprecedented,' warning that no company could survive a $30-million fine. LaSalle is seeking a realistic repayment plan and authorization to launch a new science program. The dispute highlights tensions between Quebec’s language policies and private educational institutions.

<p>TORONTO - An Ontario Superior Court judge has rejected Hudson's Bay Company's proposed restructuring agreement, potentially pushing Canada's oldest retailer closer to receivership [1,2,3,4].</p><p>...

Canada’s Lion Electric Company (TSX: LEV) is throwing in the towel. The electric vehicle maker has seen its grace period end under certain covenant reliefs granted by lenders, and as a result…

Pub chain employs 500 workers whose jobs were secured thanks to principal Jeff Donnelly reaching deal to buy assets from Bank of Montreal

Certain businesses have used this mechanism in tough times to preserve jobs and chart a path to survival

Mastermind Toys said the decision to obtain creditor protection was made "following careful evaluation of available alternatives."