A British Columbia Supreme Court Judge has approved a settlement agreement between the owners of the Northern Pulp Mill in Pictou County and the Nova Scotia Government.
The deal was approved Friday by Justice Shelley Fitzpatrick. Mill Owner Paper Excellence has withdrawn a $450 million lawsuit against the province and will abandon plans to reopen Northern Pulp. The company has agreed to top up pensions by $30 million.
The company will also move forward with an independent feasibility study of a potential new kraft mill in Queens County.
