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Northern Pulp to receive loan for severance payments
September 28, 2020 By P&PC Staff
Photo © Murdo Ferguson/Paper Excellence. Northern Pulp’s laid-off workforce will receive their remaining severance payments after the mill’s parent company, Paper Excellence, received permission to grant a loan.
According to CBC News, Paper Excellence received approval on the $6.2-million loan from the British Columbia Supreme Court (where Paper Excellence is headquartered) on Sep. 25.
The money will be used to pay out severance and retiree benefits for the mill’s workforce, which was mostly laid off in January when the Nova Scotia–based Northern Pulp shut down. The few remaining workers maintaining the mill site will also receive salary continuation.
Graham Kissack, vice-president of Paper Excellence, says the payments will be issued ‘as quickly as possible.’
Read the full story here.
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