Nova Scotians have a huge lawsuit hanging over their heads, but they can be forgiven for not dwelling on it in the summer of 2022, given the never-ending storm of crises swirling around them — COVID-19, the climate crisis, biodiversity collapse, runaway inflation and disaster capitalism run amok, and disintegrating democracy around the world. Still, […]
An Indonesian company is increasingly controlling Canada’s pulp industry, but regulators seem unwilling to act
Paper Excellence, already Canada’s largest pulp and paper producer, now plans to swallow Resolute Forest Products.
Today news broke that pulp and paper giant Paper Excellence is about to swallow up Canada’s Resolute Forest Products in a deal worth US$2.7 billion. “We are very alarmed by this development,” says Shane Moffatt, head of Greenpeace Canada’s Nature and Food Campaign. “It calls for much greater scrutiny of the ownership of Paper Excellence. […]
The “weird” legal mechanism being used by Northern Pulp in its $450 million lawsuit against Nova Scotia
Northern Pulp's biggest debt is a paper debt to its owner, Paper Excellence, and that indebtedness is being used to circumvent Nova Scotia's environmental laws.
This is the second of a two-part story examining how the Companies’ Creditors Arrangement Act is being employed in a lawsuit seeking $450 million from the province of Nova Scotia. Read Part 1 here. Three months before Mountain Equipment Co-op went to the British Columbia Supreme Court for creditor protection in 2020, Northern Pulp – […]