Thoughts on BC Politics and More

Port Alberni may have to cut ­services and raise property taxes to help make up for lost revenue in the wake of forestry company San Group going into creditor protection, says the city’s mayor. San Group already owed almost $1 million in property taxes from last year. “We are in the process right now of reviewing possible ­service cuts, so we are looking at that as an option,” Mayor Sharie Minions said Friday. “Because there’s last year’s unpaid [tax] that has to be accounted for and then the budget impact for this year as well" ... CLICK HERE for the full story

About 500 creditors are prohibited from pursuing money from the San Group of companies — owners of a value-added plant and lumber mills in Port Alberni — until at least Dec. 19, when the court-appointed monitor returns to the Supreme Court of B.C. in Vancouver. The forestry venture, which consists of nearly 20 related businesses, filed for protection from creditors on Nov. 29. On that date, the monitor received permission to prepare for a sale and investment solicitation process but no details are public. That protection expired on Monday and was renewed by Justice Michael Stephens until next week as the Deloitte Restructuring Inc. monitor works to unravel a complex financial picture around the Langley headquartered forestry venture ... CLICK HERE for the full story