This sign posted last November on the Kitnuna Corp. building in Cambridge Bay provided official public notice that Kitnuna Petroleum Ltd. and Kitnuna Projects Inc. had declared bankruptcy. Little information on the bankruptcies came to light at the Kitikmeot Inuit Association’s annual general meeting this week in Cambridge Bay. (File photo)
Update on 2019 Kitnuna bankruptcies leaves creditor aghast
Creditors in western Nunavut who are still smarting over money owed to them by two bankrupt companies, Kitnuna Projects and Kitnuna Petroleum, could not learn much from a recent Kitikmeot Corp. update on the bankruptcies.
Brian Penney, president of Baffinland Iron Mines Corp., is shown speaking from Ottawa today on a screen in the Frobisher Inn in Iqaluit. Penney was addressing community members and intervenors involved in the Nunavut Impact Review Board’s assessment of Baffinland’s phase-two expansion plans. Today is the first day of the community roundtable and pre-conference hearing. These meetings are being conducted from Pond Inlet, with remote hubs in Iqaluit, Winnipeg and Ottawa. Participants are also listening in on a teleconference line. The meetings are scheduled to run until 5 p.m. this Thursday. (Photo by Meagan Deuling)