At the end of this month, Northern Pulp and six of its affiliates will be back in the British Columbia Supreme Court, and odds are they will ask for and get yet another extension — the seventh to date — of the creditor relief they’ve been afforded under the federal Companies Creditor Arrangement Act. Northern […]
Corporate shell game
Northern Pulp seeks protection from creditors in a BC court — and its largest creditor is its owner, Paper Excellence
Northern Pulp — the mill in Pictou County — has gone into hibernation. And Northern Pulp — the company — is “insolvent.” It is one of seven related companies petitioning for creditor protection in the British Columbia Supreme Court, while it seeks “a plan of compromise or arrangement.” The petitioners seeking relief from debt payments, […]