After reporting last week on legal proceedings related to Two Feathers Forest Products the Northern Sun News has confirmed a receiver has been put in place until further determination is made by the courts on an application for dissolution.
Hearing a motion put forward by Pikangikum First Nation and Eagle Lake First Nation Justice John McCartney appointed PricewaterhouseCoopers (PWC) as receiver of “all of the assets, undertaking and properties” of Two Feathers Forest Products LP as of October 13, 2011.
The order empowers the Canadian firm to “take possession of and exercise control over the [TFFP] Property and any and all proceeds, receipts and disbursements arising” as well as to “manage, operate and carry on business of [TFFP]”. PWC now has primary authority over the business operations over the short term as further legal proceedings are scheduled.
“This court orders that the Receiver shall be appointed until the final determination of the Application for dissolution of Two Feathers Forest Products LP or such further order of this court,” cites the order.
Upon turning over the TFFP reigns to PWC Justice McCartney also ordered the third party to make reasonable efforts to preserve the ongoing training program developed with a February 2011 funding grant provided by the Minister of Training, Colleges and Universities.
Earlier this month Pikangikum Chief Jonah Strang and Eagle Lake First Nation Chief Pam Pitchenese asked the Ontario Superior Court of Justice for an order declaring the dissolution of the Two Feathers Forest Products LP and that a receiver be put in place to manage that dissolution. The Chiefs cited irreconcilable differences claiming the purpose of the limited partnership had failed and there was no prospect of success for the project envisioned.
TFFP was constituted in November 2008 as a limited partnership between Pikangikum First Nation, Eagle Lake First Nation, and Wabigoon Lake Ojibway Nation. The intent of the initiative was to implement a value-added enterprise strategy which included two forest products processing facilities in Red Lake and Eagle Lake First Nation. The initiative would also feature a premier training component for the potential workforce.