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Quebec government says it has recovered $200 million from Northvolt loan
Quebec recovered $199 million from Northvolt's frozen accounts after the parent company's bankruptcy and seeks court authorization to repossess land for a stalled battery factory project.
- The Quebec government has recovered nearly $200 million from its loan to Northvolt, as the money came from frozen bank accounts after Northvolt's Swedish parent company declared bankruptcy in March.
- Quebec has ended its partnership with Northvolt and is seeking to recover a $240 million loan for land purchased for a battery plant.
- The provincial government has lost a $270 million investment in Northvolt and is trying to recoup the loan amount plus $20 million in interest.
- Quebec's economy minister confirmed the recovery of $199 million from Northvolt, indicating that further amounts might be added to that total.
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Quebec recoups just under $200M from Northvolt after ending partnership
The Legault government has managed to recoup $199 million from the Swedish company and it's hoping to get its hands on the land where the company intended to build a massive electric vehicle battery plant.
·Canada
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And the government should be able to recover more by the "guarantees" it has as a priority creditor.
·Montreal, Canada
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The Hamilton Spectator+6 Reposted by 6 other sources
Quebec government says it has recovered $200 million from Northvolt loan
MONTREAL - The Quebec government says it has recovered nearly $200 million on its loan to the North American branch of battery maker Northvolt.
·Hamilton, Canada
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Total News Sources10
Leaning Left8Leaning Right0Center1Last UpdatedBias Distribution89% Left
Bias Distribution
- 89% of the sources lean Left
89% Left
L 89%
11%
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