A Supreme Court judge in British Columbia extended creditor protection for Northern Pulp through the end of next June on Tuesday, but officials predict litigation between the company and Nova Scotia government or a mediated settlement between the two parties will happen well before that.
Officials with the Northern Pulp mill should know soon whether they’ll reach a settlement with the Nova Scotia government over the Pictou County-based operation’s shutdown and other matters, or if the two sides will find themselves back in court.
Posted: Dec 22, 2020 11:20 AM AT | Last Updated: December 22, 2020
The goal of the trust is to develop new high-value products and business models through ecological forestry.(Michael Gorman/CBC)
Nova Scotia s $50-million Forestry Innovation Transition Trust has started paying out money.
Announced a year ago, the fund is intended to help the sector move toward sustainability and diversification in the wake of the closure of the Northern Pulp mill.
The funding announced Monday includes up to $2 million for the Nova Scotia Community College s multi-year forestry innovation voucher program, which allows new and existing businesses to develop new products and technology with the help of the college and its resources.