Nova Scotia Judge Approves Plan For Payments to NewPage Port Hawkesbury Wood Suppliers, Contractors

Sept. 23, 2011 (ForestTalk) - A Nova Scotia Supreme Court judge has approved the plan today to see the NewPage Port Hawkesbury‘s wood suppliers and forest contractors get paid.

Two funds are now in place:

  • Silviculture Reserve Fund — $998,200 — will pay silviculture contractors for services conducted on both Crown and private lands,prior to September 9, for which they have not been paid. The money for this fund is coming from the province.
  • Woodsmen’s Reserve Fund — $1.35 million — will pay harvesters and truckers who delivered wood to the mill during its last days of operation (August 22 to September 9). The money for this fund is from NewPage Corp. under the Nova Scotia Woodmen's Lien Act of 1989.

The funds will be administered by Ernst & Young Inc. in its capacity as the Court approved Monitor of NewPage Port Hawkesbury. All claims will be paid on a pro-rated basis.

All claims need to be received by 5pm on October 14.

SOURCE: ForestTalk.com