NewPage creditors owed $156M

NewPage Port Hawkesbury owes $156 million to hundreds of unsecured creditors, from trucking companies to the local YMCA.

An 11-page list of creditors was posted on the company's website by the court-appointed monitor trying to sell the mill in Point Tupper.

The list shows that Nova Scotia Power Inc. is owed the most, at more than $9 million.

Cape Breton companies are owed nearly $3 million. Most are forestry and trucking firms, but others include a party rental business, a tour company and the YMCA.

The amounts owed range from $64 to a Port Hawkesbury taxi company to $280,000 to a forestry contractor in St. Joseph du Moine. The Municipality of the County of Inverness is owed $15,000 in taxes.

In addition, $55 million is owed to parent company NewPage Corp. and there is $75 million in unfunded pension liability.

The mill is on indefinite shutdown. One paper machine was turned off on Sept. 10 and the other last Friday.

The Nova Scotia Supreme Court has ordered NewPage to set aside $1.35 million to pay claims from wood suppliers.

The Nova Scotia Landowners and Forest Fibre Producers Association is asking all creditors who have supplied wood to NewPage to contact its office.