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Stock Market & Financial Investment News

News Breaks
December 4, 2012
05:54 EDTBNSBank of Nova Scotia initiated with a Neutral at Citigroup
Price target C$58.
News For BNS From The Last 14 Days
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March 30, 2015
07:16 EDTBNSConocoPhillips initiates process for divestiture of oil and gas assets in Canada
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March 19, 2015
08:24 EDTBNSCliffs Natural says Bank of Nova Scotia files lawsuit against company
Cliffs Natural (CLF) said in a filing that as previously disclosed, on January 27, the company announced that Bloom Lake General Partner Limited and certain of its affiliates, including Cliffs Québec Iron Mining ULC commenced restructuring proceedings in Montreal, Québec, under the Companies’ Creditors Arrangement Act. Certain obligations of the Bloom Lake Group, including equipment loans, are guaranteed by the Company. On March 16, The Bank of Nova Scotia (BNS) filed a lawsuit in the U.S. District Court for the Northern District of Ohio, Eastern Division, against the company, asserting that the company breached its obligations under a guaranty of certain equipment loans pursuant to a Master Loan and Security Agreement, dated September 27, 2013, among certain members of the Bloom Lake Group and Key Equipment Finance Inc.. BNS is seeking an award of $52.6M plus unpaid accrued interest and expenses. Among other defenses to this litigation, the company is current in its payment obligations under the Equipment Loans.

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