Northern Pulp owes $309M to creditors, document shows
List of creditors released this week, company recently filed for creditor protection
Northern Pulp owes nearly $309 million to creditors, according to documents released this week.
Most of the money is owed to B.C.-based Paper Excellence, Northern Pulp's parent company, as well as the province of Nova Scotia.
Paper Excellence is owed $213 million and the province $84 million.
Northern Pulp owes $4.9 million to employee severance and continuation payments. It also owes $1.25 million to Terrapure, a waste storage and packaging company, and $500,000 to Air Liquide Canada Inc.
The full list of creditors can be found here.
On Friday, the company was at a hearing looking to extend that protection. Ernst & Young was appointed as the monitor on the file.
Northern Pulp is hoping to reopen in Nova Scotia. It is in the process of reorganizing and restructuring.
The Abercrombie Point, N.S., mill closed when the province forced Northern Pulp to shut down its Boat Harbour effluent treatment plant at the end of January.