*U ferns * Tae aad de SARAH A. ZIMMERMAN THE TERRACE LUMBER Company (TLC) was on the .teceiving end last week of a $1.3 million rebate from ~ softwood lumber duties paid » to the United States but the ~ local company - won't see any of that money. That’s because the money ‘went directly to Internation- al Forest Products, the log “marketing company TLC used and which is first on the " list of secured creditors. TLC owed International ‘Forest Products $1.8 mil- lion, prior to the rebate, says. Larry Prentice, the trustee - charged with overseeing _ TLC’s plans to make a pro- . " posal to its creditors. He was appointed after - TLC effectively admitted it owed far more than it could pay. “They will against loan which will leave just _ over $500,000 still owing’ to _ FP,” Prentice said. Even after the ‘softwood ‘rebate has been taken into _ account, TLC still owes _ more than $8: million. ". The company has also learned the: Oct. 25 and 26 auctioning off of the assets on the site" fetched $2. 41 From front apply it _ Mystery group here their. outstanding’ . the last 40 years. A14 - The Terrace Standard, Wednesday, December 6, 2006 Company debt eased _ iby softwood rebate | million and Maynard’s’ con- tinues to try to find buyers for those lots that did not sell, show the first trustee’s . report filed with the court last week, Of the $2.41 million all but $20,000 ‘has been’ paid over to the accounting. firm of Ernst and Young, says . Prentice. Prior to going into credi- ‘tor protection TLC was on 4 monthly stand-by charge with BC Hydro, which the - trustee and ‘the company were not able to terminate. ~ The company has been given $50,000 from the pro-. ceeds of the auction to cover the cost of a $50,000 BC Hy- dro bill for the period Oct. 23 to Nov. 30. Prentice says he understands the power to’ the mill was expected to be cut off after that date. The company was also ‘given $15,000 to pay the wages of the few employ- ees who remained at the site until Nov. 30, including its watchman, Ralph Braam. “I shut the gate pretty — much behind myself at one o’clock last Thursday,” says ’Braam, who has worked at the site for the better part of _ “Twent there when it was still Pohle Lumber company ‘and I started part time on the companies that took owner-’ “here is anybody’ s guess.’ owing -on seniority in that the union ‘the ‘mill location. That hap- pee eee ee ee eee For more information. visit wn .heal org : or call the Heart and Stroke Foundation et 1-888-HSF- INFO coeare |. Health Check"... | Se; tells you it’s a healthy choice | ["eiceur"- weekend clean up crew in 1967,” he said. Over the years he’s » worked for the subsequent. ° ship including Skeena Cel- lulose’ Inc., New Skeena Forest Products and now the . Terrace Lumber Company... He said it’s been difficult © watching the dismantling of | the mill. ; “Tt’s been a very distress- ing couple of weeks watch- ing this thing coming apart . at the seams,” Braam says. “What's going to develop “One issue that remains: outstanding is the amount: to TLC’s former unionized workforce. The United Steelworkers have filed a-claim with Prentice — claiming severance in the amount of $2.044 million ‘but TLC calculates it actu- ally owes its former employ- ees $600,000. - The difference is based calculates’ severance back . through previous owners but TLC says it will pay sever- ance only after it took over » COMING DECEMBER 15TH ‘ Lucky people will win everything on their $500 wish list. “Open until 11 p.m.’ -. Get your-entry forms from an a sh of our participating merchants, fillin your wishes up our ue of $500 00 ond drop Hi in the row box located fi pened in early 2005. TLC was back in court yesterday seeking another extension of its creditor pro- tection. , 6 ‘It’s described on its web site as a “U.S. "development stage public company, with of- fices in Vancouver.” _The address of Clean Energy i is the same’ . given for Terrace. Forest Products although ‘the listed phone number of the former com- -pany appears to be out of order. “Tve ‘been: part. of that- company for “years,” says Thuot of Clean Energy. — “It's a green energy development com- - pany and they are always looking for places to go to bring in new environmentally sound ’ technologies.” According to its web. Site, Clean. Energy... - Combustion, Systems halds -patents for vari- ous high-efficiency combustor technologies. The company’s web site also indicates, i in - From front ‘a press release dated April 27, 2006, that it Oien has been associated i in thepast with a company called Yukon Forever Green For- est Products Ltd. a ; Terraceview expands The current Terraceview facility was built in two phases, the first in the early 1980s and the second in the late 1980s. _ Its bed complement was first defined as a combination of intermediate and extended ~ care but that’s now been changed to a new category called complex care. A further expansion at Terraceview is on - ‘the books for completion by 2015 and that , could result i in adding a further 25 complex — care beds, making for 111 in all at the loca- tion. | Also being contemplated by 2015 are a . number of assisted living units of the same type that now exist at McConnell Estates which is next door to Terraceview. __ Assisted living is defined as accommoda- - tion for people who can live on their‘own but who may need a base level of support such as one meal a day. Wightman & Smith Insurance helps protect your home. Now you can also coilect miles with the ING Insurance Aeroplan Program. Call Wightman & Smith for details! Wightman a & Smith wees INSUrance 4655 Lazelle Avenue | Terrace" 638-1424 _ www.terraceinsurance.com had signed a memorandum of understanding — ; - +— , - . with a sawmill operator in northwestern B.C. a. es “712 13. . 14 live Tam i 16 1pm. called Liqwood Inc. with the view to build a Poo , Te4pm Vefpm Make A Wish ‘Mall Open” “wood waste based co-generation system” we : ae PM eo Open till 11pm 9:30am-: ‘00pm based on what Clean Energy calls its ‘ “gas- . he 9. 20 ‘apm es, 21 1-4pm &. 22 1-4pm Ls 23 1-4pm § & :ifier technology in Fort St. James, B.C. Late Nigh ~ Late Nigh Late Ni Late Ni "| Live Radio. wy ~ Mall Ope Fi a has yet to comie to fruition, say peo- Open till Open till Open a's pm. Open ie 9pm Open till 11pm} 9:30am-4: 00pm : ple in the area. —— Sawmill operators and forest i ministry of-.. § 25 a 136 . 27 : 128 29 130° ficials in Fort St. James indicated they have Mall Closed Mall Closed | . no knowledge of Liqwood Inc. and are not CHRISTMAS DAY | BOXING DAY aware of the co-generation plant develop- 1 ment. a i Mall Closed . WIN A GETAWAY WITH3— FRIENDS. | 3 FRIENDS WITH A GETAWAY. G° / FISHIN cf vate