Loading ...Posts Tagged ‘creditor protection’
NL: Quebec court rejects province’s Abitibi appeal
[ST. JOHN’S, NL] — The Quebec Court of Appeal has turned down Newfoundland and Labrador’s attempt to appeal an earlier decision to become a secured creditor of AbitibiBowater. The province wanted to become a creditor to ensure the company pays for the environmental cleanup of sites it once owned in the province. More
NB: Insolvent Fraser Papers takes another step forward
[TORONTO, ON] — The Canadian Press is reporting that Fraser Papers, which is operating under creditor protection, has cleared all the hurdles necessary to sell its specialty paper business, including amendments to collective agreements with its union. For more information, read the story in The Daily Gleaner: http://nbbusinessjournal.canadaeast.com/front/article/965493 More
NB: Fraser Papers proposes new venture
[EDMUNDSTON, NB] — The Telegraph-Journal is reporting that Fraser Papers Inc. wants to create a separate company to guide its specialty paper business, saying that this move could be key in its mission to emerge from creditor protection. For more information, read the story at: http://nbbusinessjournal.canadaeast.com/journal/article/829603 More
NL Politics: Abitibi announcement political, says opposition
[ST. JOHN'S, NL] - While both opposition parties in the House of Assembly were happy to hear the province will help out former AbitibiBowater employees in Grand Falls-Windsor, they questioned the timing of Tuesday’s announcement. It was made the day before nurses in the province would hit the picket line. Premier Danny Williams and three cabinet [...] More
NL: No Abitibi compensation until severance paid, Williams declares
[ST. JOHN'S, NL] - Premier Danny Williams said the province will not pay AbitibiBowater any money for its assets until the company promises in a written contract that workers will be taken care of. “Any cheque that’s going to be passed over to Abitibi in compensation for the assets that have been expropriated through legislation [...] More
