Nova Scotia's Natural Resources Minister concerned about inadequate security deposit for tidal energy company's removed railcars' disposal.
Nova Scotia's Natural Resources Minister, Tory Rushton, is worried that a $20,000 security deposit from the bankrupt tidal energy company Occurrent Power will be inadequate to cover the removal of concrete-filled railcars left in Walton's harbor, posing navigational hazards. After declaring bankruptcy on August 29, the company has $35.7 million in liabilities but only $14 million in assets. The province may need to fund the removal and become a creditor in the bankruptcy case.
October 17, 2024
6 Articles