Harrowston ready to shop again
Article Abstract:
Harrowston Inc., a holding company based in Toronto, Ontario, Canada, stated that it is again looking for new purchase, but added that it will be choosy in its acquisition. The company, a remnant of First City Financial Corp. Ltd., has C$79.6 million in its pockets and is relatively debt-free, giving it leeway in adding a fourth business to its name. President and Chief Executive Officer Brent Belzberg said that he is searching for a company that will be able to withstand what he anticipates to be an economic downturn to follow the present healthy economy. The executive's cautious move is a result of a lessoned gathered from the fall of First City, which lost control of handling a large investment.
Comment:
Is again looking for new purchase, but added that it will be choosy in its acquisition
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Magin Energy to buy Torrington
Article Abstract:
Magin Energy Inc. has offered to acquire Torrington Resources Ltd. for C$100 million in stock. Under the terms of the offer, Torrington shareholders will receive one common share and one-half warrant of Magin stock for every 2.25 shares of Torrington stock they own. Each whole warrant allows the owner to buy a share at C$9.50 until Sept. 1, 2000. The deal is subject to shareholder approval. The two Calgary, Alberta-based companies have a combined proved and probable reserves equivalent to 38.4 millino barrels of oil.
Comment:
Offers to acquire Torrington Resources Ltd. for C$100 million in stock
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Royal Bank faces lawsuit
Article Abstract:
Royal Bank of Canada is named defendant in a class-action lawsuit filed by attorneys Rod Hayley and Kieran Bridgeat of Vancouver, British Columbia. The lawsuit claims that Royal Bank's trust division overcharged its customers who paid early payments or renewals of their mortgages. While Royal Bank does not dispute the allegation, the bank contests the need to file litigation procedures. In June 1998, Royal Bank assented to pay approximately C$2.5 million as compensation to the mortgage customers who were overcharged.
Comment:
Is named defendant in a class-action lawsuit for allegedly overcharging clients
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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