A proposed sale of Northern Pulp’s vast timberlands appears to leave nothing for the cleanup of its former kraft pulp mill in Pictou County or for the money owed to taxpayers. But the companies that provided interim financing to Northern Pulp through its five-year insolvency, and potentially a significant portion of its underfunded pension obligation to former mill employees, would get paid. On Monday, Northern Pulp filed a proposed “stalking horse” (a minimum bid) of $104 million for Northern Timber with the BC Supreme Court as part of its insolvency proceedings. It is also seeking the extension of creditor protection, leaving the potential that a higher bid could come in for its valuable forest lands. …No estimated cost has been released publicly for cleaning up the Abercrombie site that housed Northern Pulp for 50 years. …On Monday, Northern Pulp said it had provided a cleanup plan to the Department of Environment.

Related coverage in CBC News by Michael Gorman: Northern Pulp gets initial $104M bid for timberlands, seeks court approval