By Joanne Chianello, Ottawa Citizen, April 29, 2015
The city secured $300,000 from Plasco Energy Group on Wednesday to pay for
dismantling its Trail Road plant, the same day the struggling waste-to-energy
firm was granted an additional two months’ protection from its creditors. Plasco
has been under court protection from its creditors since Feb. 10. For weeks now,
the city and Plasco’s lawyers have been sparring over the company’s $300,000
letter of credit to the city earmarked for decommissioning the plant. The letter
of credit, issued by the Bank of Nova Scotia, expires on June 20, so it was
imperative that the city take possession of the funds before then. via
Plasco gets extended creditor protection; city secures decommissioning money
| Ottawa Citizen.