YAORUN Wood Ltd. is back in action again after settling up a debt to the provincial government which led to a seizure of all the logs on their Keith Ave. yard.
Ministry of Forests, Lands and Natural Resource Operations Brennan Clarke said the company settled all outstanding payments for stumpage.
“The forfeiture was lifted on Thursday, December 5 as Yaorun paid their outstanding obligation,” said Clarke.
Logs in the company yard had been seized November 13 and 22 for non-payment of stumpage. The first time the log yard was shut down by a seizure of logs was in October when Yaorun fell behind by $586,000 for outstanding stumpage. The most recent debt was $150,000 which they settled up this week.
The total value of the logs in the yard, which have been accumulated by Yaorun since the spring, is estimated at 2.3 million.
