XML FeedsTerrace Bay Pulp receives another extension
Oct 16, 2009 | In Financial News | 9 feedbacks »
Terrace Bay Pulp in Ontario has received another extension to their creditor protection period.
Yves Fricot is the legal counsel for the Buchanan Forest Products, the mill's owners. He said the extension is an important step that means the judge understands more time is needed to find re-financing to re-open the idled mill before winter sets in.
Read more:
Mill gets more time (TBNewsWatch)
9 comments
Comment from: wondering [Member]
I read that Buchanan Forest Products is now bankrupt as of Oct 22/09. Creditors are to meet at Val Halla in Thunder Bay on Nov.6/09. I wonder how that will affect Terrace Bay Pulp. Any comments?
31/10/09 @ 12:10
Comment from: greenstoner [Member] 
First I heard of the bankruptcy. Offices are still open and some work still ongoing as of yesterday. Where did you read that?
31/10/09 @ 14:31
Comment from: greenstoner [Member]
Of course they do use a different company name for every month of the year - that might be it.
31/10/09 @ 14:33
Comment from: just another member [Member]
terrace bay is a subsidiary of buchannan and not affected by the bancruptcy
31/10/09 @ 15:08
Comment from: greenstoner [Member]
So what companies were affected and what were the fall-out implications?
31/10/09 @ 15:46
Comment from: wondering [Member]
There was a small article in Oct. 29th edition of the Chronicle Journal. It was titled "Notice of Bankruptcy". The small article stated that Buchanan Forest Products was bankrupt.
31/10/09 @ 16:01
Comment from: just another member [Member]
its the way buchannan will steal the workers pensions and stiff their creditors..then they will most likely start up under a new name
31/10/09 @ 17:41
Comment from: wondering [Member]
Buchanan will only use government money,pension fund money and severance money to start and run his companies. He squeezes the government for money, or his companies don't run. It's a huge money circle with Bucky on top, and screw everybody else. When wood and pulp prices go back down, so do the mills, and the only way they will start up again is with government money. What a way to make money. As Mr. Burns would say,"Release the hounds!".
01/11/09 @ 08:51
Comment from: wondering [Member]
Terrace Bay Pulp applied for yet another extension - until Nov. 20th. They are still talking to their potential money lender, thus the extension. Then, of coarse they have to pry guarantees from the various forms of government. As the world turns........
02/11/09 @ 12:06
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