Tuesday, December 16, 2008

ABH Bankruptcy: Implications for NL's water and forests

Currently mulling over the situation with the pending ABH bankruptcy, and the natural resources tucked under their arm.

What happens if ABH goes under? Do we automatically get our forests and water returned to us? I hope so. It wouldn't be so great to have those things floating around on the open market. Does Danny have plans to get in a bidding war (with Hydro-Quebec or some other mafia group) with his new Nalcor creation on these assets?

Where does the law sit with this? Anybody out there have an idea? Cause I sure don't.

In ABH's case, I'm guessing there's more profit in not paying out severance, environmental fees or retirement packages and continuing to operate hydro assets and export raw fibre than operating a pulp mill at a loss, but there are 'bigger ego's' than mine sorting all this out in the back rooms, I hope (NOT!!!LOL!).

Does it all have to do with Atlantica, and getting as many of the 'main assets' as possible under one corporate roof before all that goes down? Its anybodies guess at this point, unless you sit at one of the 'tables'.

If the wholesale export of Canada's natural resource capital continues at the rate it's been going, we'll soon be pushed off the continent for greener pastures just like our forefathers were from europe a century and more ago. Either that or we all go back to being serfs.

Here's a coupla links to mull over...

Industry Canada page providing some background info
http://www.ic.gc.ca/eic/site/cilp-pdci.nsf/eng/cl00063.html

The Marxist-Leninist Daily has a different take on the situation. This link deals with Stelco, Abitibi and US bankruptcy dealings, and is quite relavent.
http://www.cpcml.ca/Tmld2004/D34181.htm

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