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The debt list

The financial situation at Terrace Bay Pulp has become clearer. An eight-page list of creditors has been posted by the CCAA monitor, Ernst and Young.
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The financial situation at Terrace Bay Pulp has become clearer. 

An eight-page list of creditors has been posted by the CCAA monitor, Ernst and Young. 

The largest creditor on the list is the Ontario government through the Ministry of Northern Development and Mines, which is owed in more than $24-million.

Another $41.4 million dollars Canadian is owed to companies right across the country. The overwhelming majority of the money owed by Terrace Bay Pulp is to businesses in Thunder Bay and along the north shore. 

A number of operations in the city are owed hundreds of thousands of dollars. 

The pulp mill also owes another U.S.$1.5-million to companies based in the United States. 

Not included on the list is the Municipality of Terrace Bay, which is owed more than $500,000 in back taxes. 

The mill entered CCAA creditor protection on Jan. 25.

 

(Thunder Bay Television)

 





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