Setback for Terrace Bay Pulp Mill

It’s a $40-million snag.
Terrace Bay Pulp is trying to find a new major lender to support its delayed restart plan now that a previous “funding provider” is out of the picture.
But Alex Morrison of Ernst and Young, who is the court-appointed monitor of the company’s 16-month-old restructuring effort, says he is confident a new lender will be found.
About 425 people were working at the mill before it was idled in February 2009.