Northern Pulp is safe from its creditors for another five months. BC Supreme Court justice Shelley Fitzpatrick approved the company’s motion on Friday to have creditor protection extended until April 31. Northern Pulp estimates it has enough money left to run until June. After that it will have to seek permission from the the court and its creditors to draw again on a $50 million financing facility set up by its parent company, Paper Excellence. The Nova Scotian taxpayer is its largest secured creditor – holding about $86 million in loans. …That $50 million pot set up by Northern Pulp’s parent company comes with strings attached. …By next June, Northern Pulp’s managers have to be able to prove…  on their ability to hit the milestones by Dec. 2022. …If they don’t, the loan could get pulled and Northern Pulp forced into bankruptcy. [We respect the copyrights of the source publication – full access to this story may require a subscription]