Loading ...Posts Tagged ‘bankruptcy protection’
NB: Fraser Papers’ NB workers vote to accept deal
[EDMUNDSTON, NB] — CBC News is reporting that workers at Fraser Papers’ mill in Edmundston have voted in favour of a new contract that will slash their pensions, but hopefully help the company get back on its feet. For more information, read the story at: http://www.cbc.ca/canada/new-brunswick/story/2010/03/08/nb-fraser-papers-contract.html More
NB: Government in hot seat for Atcon subsidies
[MIRAMICHI, NB] — The Telegraph-Journal is reporting that the government should be taking a major part of the blame for the current fallout from the Atcon Construction situation, according to the Canadian Taxpayers Federation. Its federal director says money should never be given to firms that are already besieged financially. For more information, read the [...] More
PE: Mariner Seafoods granted more time to get back on track
[CHARLOTTETOWN, PE] — A P.E.I. Supreme Court judge has extended bankruptcy protection for Mariner Seafoods of Montague until April 8. Justice Wayne Cheverie granted the extension in Supreme Court in Charlottetown Thursday after hearing representations from legal counsel. More
NB: Fraser Papers’ Maine union agrees to wage claw back
[MADAWASKA, ME] — The Telegraph-Journal is reporting that Fraser Papers Inc. is making progress in its efforts to emerge from bankruptcy protection. Workers at its Maine paper mill recently voted to accept a more than eight per cent pay cut. For more information, read the story at: http://nbbusinessjournal.canadaeast.com/front/article/949632 More
NS: Brooklyn Bowater Mersey closing for third time
[BROOKLYN, NS] - Employees at Bowater Mersey Paper Company Ltd. in Brooklyn, Queens Co. are angry and confused the “profitable” plant is being hit with another shut-down. This “production curtailment,” as overseeing company AbitibiBowater calls it, runs from June 6 to July 16 and is nearly six weeks in length. Most employees believe it is [...] More
NL: Forestry workers facing uncertain future
[BOYD'S COVE, NL] - Brothers Gerald Pearce and Francis Pearce of Boyd’s Cove thought they were retired, but at ages 61 and 59 respectively, they may be faced with having to find employment. It has to do with the Early Retirement Incentive Program through AbitibiBowater that was been terminated as of April 24. The program, which [...] More
AbitibiBowater could beat NL gov’t in court: Political scientist
[ST. JOHN’S, NL] - They talked about it, threatened with it, and now AbitibiBowater has taken the first step: calling on the new “holy grail” of trade. The paper giant unleashed the power of the North American Free Trade Agreement by filing its Notice of Intent to Submit a Claim to Arbitration in relation to [...] More
Former AbitibiBowater employees demand attention
[GRAND FALLS-WINDSOR, NL] - “Where is Danny, where is Danny?” That was the chant of nearly two hundred laid-off AbitbiBowater workers outside the now-closed mill in Grand Falls-Windsor on yesterday afternoon. The group had congregated at the facility to call attention to their latest plight - they are waiting for severance promised by the company [...] More
Feds negligent towards NL forestry: CEP
[ST. JOHN'S, NL] - When it came to AbitibiBowater’s news that it couldn’t afford to pay severance, the province was quick to respond with plans to make sure the workers get those cheques. However, Ottawa has not publicly said anything about the paper giant’s announcement to seek bankruptcy protection - or anything else about the beleaguered [...] More
AbitibiBowater granted bankruptcy protection
[MONTREAL, QC] — The Chronicle Herald is reporting that troubled forestry giant AbitibiBowater Inc. has been officially granted bankruptcy protection in both Canada and the U.S. For more information, please visit http://thechronicleherald.ca/Business/1117517.html More
