Creditors of Meadow Creek Cedar have agreed to give the company more time to pay its debts.
“The decision to extend 60 days from August 8 was approved by majority vote,” Ben Franklin of trustee Murphy and Associates said in an email.
Franklin didn’t indicate how many creditors actually voted.
Meadow Creek owes $71,000 to Canada Revenue Agency and a total of $91,000 to over 50 unsecured creditors. They missed a March 7 deadline to make their final payments under an arrangement reached in 2009.