Monitor responsible for selling forestry company assets applies for more time

By Andrew Duffy
Victoria Times Colonist
September 2, 2025
Category: Business & Politics
Region: Canada West

The monitor overseeing the credit-protection process for San Group, a Langley-based forestry company with debts in excess of $150 million, has applied to the courts for an extension of the process in order to complete the sale of the company’s assets. Deloitte Restructuring has asked the courts to extend the process to Oct. 31. It currently expires Sept. 5. …According to the monitor’s ninth report to the courts, filed this week, the sale of three San Group properties has now closed, and only a Langley farm remains of the major assets. The sale of the Coulson Mill in Port Alberni closed June 20 with proceeds of $12.06 million, the Langley mill site closed July 15, netting $12.37 million, and the Port Alberni value-added facility sale closed July 29, netting $8.25 million. On top of that, Tradewest Asset Solutions has now completed the sale of all of San Group’s remaining inventory, which resulted in $1.178 million being added to the pile.

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