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 – […]