Mayor Don Iveson says the city made sure to limit its risk in Greys Paper Recycling, which has now filed for bankruptcy.
Over a five-year period, the city had invested $9.4 million in land, buildings and equipment leased to the company, which Iveson says can now be repurposed.
“However, if the bankruptcy trustees and the courts see fit to permit a restructure, and another business entity to try to get the technology to the finish line, we’d be thrilled to see that happen, as far as I’m concerned,” remarked Iveson.
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