Feds try to reclaim $347 million insurance payout to Suncor linked to Libya unrest
The federal government is trying to reclaim nearly $350 million in insurance paid to Suncor Energy Inc. in the wake of political unrest in Libya.
“According to EDC’s May 15, 2022, notice of arbitration, the Libyan assets continue to have significant value and generate revenue for Suncor and its subsidiaries. EDC seeks to recover the amounts realized in connection with the assets until the $347 million has been repaid in full,” judge Christine Pallotta wrote in the decision Monday.‘We’re suffering brutality’: African migrants at Libya-Tunisia border call upon U.N.
“As of the end of 2015, production in Libya remains substantially shut-in given the political unrest. The timing of a return to normal operations remains uncertain,” the site states.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Feds try to reclaim $347 million insurance payout to Suncor linked to Libya unrest - BNN BloombergThe federal government is trying to reclaim $347 million in insurance paid to Suncor Energy Inc. in the wake of political unrest in Libya.
Read more »
Feds try to reclaim $347-million insurance payout to Suncor linked to Libya unrestThe oil giant claimed risk-mitigation payments for losses linked to Libyan energy assets, but Export Development Canada argues that Suncor’s oil facilities still deliver returns
Read more »
Ottawa tries to reclaim $347-million insurance payout to Suncor linked to Libya unrestOttawa is trying to reclaim nearly $350 million in insurance paid to Suncor Energy Inc. in the wake of political unrest in Libya. Read more.
Read more »
Ottawa tries to reclaim $347-million insurance payout to Suncor linked to Libya unrestOttawa is trying to reclaim nearly $350 million in insurance paid to Suncor Energy Inc. in the wake of political unrest in Libya. Read more.
Read more »
Officials request feds ‘pony up Alberta’s cash’ for affordable housing - Calgary | Globalnews.caThe calls come as only six of 39 affordable housing projects in Alberta received federal dollars in the latest funding round from the Rapid Housing Initiative
Read more »
Feds commit $6M to Calgary tech sector with claim of 1,000 jobs over next four yearsPrairiesCan investment will help establish a new Technology Integration Centre to businesses to access capital, talent, and new markets.
Read more »