17:31:12 EDT Thu 28 Mar 2024
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Resolute Forest Products Inc
Symbol RFP
Shares Issued 90,453,964
Close 2018-10-19 C$ 15.38
Market Cap C$ 1,391,181,966
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Globe/CP say top court to hear Resolute's Dryden case

2018-10-19 08:28 ET - In the News

The Globe and Mail reports in its Friday edition that the Supreme Court of Canada says it will hear a legal dispute over whether the Ontario government can force Weyerhaeuser and Resolute Forest Products to clean up a contaminated site upstream of the Grassy Narrows First Nation. A Canadian Press dispatch to The Globe says that the two sides have been at odds since the province ordered the companies in 2011 to remediate the former mill site in Dryden, Ont., where 9,000 kilograms of toxic effluent was dumped in the English-Wabigoon River system in the 1960s. The two companies claim that indemnity granted about 30 years ago to the company that owned the site at the time applies to them as well, something the province disputes. An Ontario Superior Court judge ruled in favour of the companies in 2016, stating that the language of the indemnity should cover the two subsequent owners as well. The Ontario Court of Appeal overturned the ruling, stating that context was essential to a final determination. The mercury contamination has led to long-term health impacts for the first nation that continue today. Last year, Ontario's former Liberal government committed $85-million to remediate the river system.

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