Terrace Bay Pulp has a good day in court

Terrace Bay Pulp is one step closer to reopening this summer.

Today the company announced that their Plan of Arrangement has been sanctioned by the Ontario Superior Court, clearing the way for the company to exit bankruptcy protection.

The decision by the court is subject to a three week appeal period which will expire on Aug. 17.

50 employees are expected to return to work next week.

The full work force of 300 employees are expected back on the job by August 16th.

Source:

Terrace Bay Pulp clears another hurdle (TbNewsWatch)