The ownership dispute over Skeena Sawmills and Skeena Bioenergy pellet plant continues to unfold in a Vancouver Supreme Court, following the businesses' placement into receivership due to overwhelming debts.
The court is deliberating a pathway to return the facilities to the Cui family, their original owners, involving the creation of a new company to absorb liabilities before declaring bankruptcy.
Despite opposition from various stakeholders, including creditors, businesses, First Nations, and government bodies, the Cui family's bid stands out as the most viable option to revive the operations.
However, alternatives, such as an offer from the Kitsumkalum First Nation, complicate the decision-making process.
The debate intensifies over legal mechanisms, like reverse vesting orders, with implications for the forestry industry and public interest.
