Inuvik-based Dowland Contracting has no money left for creditors
Construction company involved in projects in Yukon and Nunavut declared bankruptcy 3 years ago
Dowland Contracting Ltd. has no money left for its creditors, according to the final report from the receiver.
The Inuvik, N.W.T.-based company was forced into bankruptcy almost three years ago after piling up loans with Royal Bank and other creditors.
The company owed $135 million but had only $75 million in assets.
The company was involved in 30 projects across Canada, including Inuvik's East Three school; rebuilding St. Jude's Cathedral in Iqaluit; new hospitals in Dawson City and Watson Lake, Yukon; the Tantalus School in Carmacks, Yukon, and a new freshwater pump station in Whitehorse.
Dowland also defaulted on and walked away from the renovation project at Iqaluit's Qikiqtani General Hospital.