Plasco gets extended creditor protection; city secures decommissioning money
Ottawa Citizen

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.

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