Northern Pulp granted creditor protection until the end of 2020 (cbc.ca)
A judge in British Columbia has granted Northern Pulp creditor protection until the end of 2020 and approved an interim financing agreement that will see the mill receive $15 million from third-party lenders. Justice Shelley Fitzpatrick delivered her decision Thursday in B.C Supreme Court via teleconference following two days of arguments. The ruling means the mill, which was facing a cash crunch, now has the liquidity to get it to the end of the year as it works toward completing environmental cleanup work required by the Nova Scotia government at a site in Pictou County and works on a restructuring effort in hopes of eventually reopening the operation.