Methinks the final nail was the impairment charge they took on the Plant. Secured Creditors got nervous. Probably breached the covenants. Also the fact that the new Provincial Govt doesn't believe there is such a thing as climate change so they scrapped the Cap & Trade on carbon emissions. All the new Prov Govt cares about is buck-a-beer...seriously...
So if you were one of their suppliers and they owed you 10s of thousands of dollars for months on end . Would you keep supplying them on a promise ? Knowing there are fifty other unsecured suppliers getting the same promise? I think not . They even had to cut a deal to keep power and water on .
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