Hefler asks creditors for more time
A Nova Scotia lumber and bioenergy company older than Canada is asking the courts for more time to pay off creditors.
In an article in the Herald Business, Hefler Lumber Products’ lawyer Carl Holm told the Supreme Court of Nova Scotia Friday afternoon that the company owes more than $30 million to four secured creditors and another $30 million to 40 unsecured creditors.
“The business case for Hefler Forest Products is good,” David Barrett, a Hefler board member and minority shareholder, said Friday in an interview. The mill makes lumber largely for speciality markets and generates heat and power.
“The thing is, as long as people will wait for their money, it’s pretty much 100 per cent sure they will get it.”
The privately-owned mill, which focuses on specialty products, recently upgraded some of its equipment after a winter roof collapse, and installed a 3.1 MW CHP system a few years back.