Northern Pulp cried poor while paying parent company nearly $60 million, Nova Scotia officials argue in court documents

The province of Nova Scotia says Northern Pulp shouldn’t be allowed to accept a $50-million loan from Paper Excellence Canada and related company Pacific Harbour North American Resources. - Contributed

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The province has accused Northern Pulp of misappropriating taxpayer funds and misrepresenting its financial state to allow it to funnel more money back to its parent company. 

The accusations are found in affidavits filed by high-level Nova Scotia government officials in the British Columbia Supreme Court in which they argue Northern Pulp shouldn’t be allowed to accept a $50-million loan from Paper Excellence Canada and related company Pacific Harbour North American Resources.  

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Source: The Chronicle Herald

 

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