Neville Log Homes Corp.- Montana based log home builder files bankruptcy on Canada plant
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| November 6, 2008 |  View for printing |
A U.S.-based log home manufacturer that built a multimillion-dollar plant here seven years ago has been bankrupted by Canadian property taxes and stumpage fees, its owner said Wednesday.
Neville Log Homes Corp., a Canadian arm of Montana-based Neville Log Homes, declared bankruptcy Oct. 23, leaving no assets and $2 million in debts.
Two of the largest creditors are the Adams Lake Indian Band, owed $93,000, and the Kamloops Indian Band, which is left holding a $77,000 debt. The 74 creditors include Revenue Canada and WorksafeBC.
Full Story: http://www.canada.com/vancouversun/n ... d5d5328d7e2
(Many thanks to the Montana Chamber of Commerce http://www.montanachamber.com/ for bringing this to our attention. Russ)
Reader Comments:
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This is what happens when you tax a business to be "fair." Neville's production and quality are better than I've seen anywhere in the log home industry. Get ready for more, the more successful you are, the higher your taxes will be, and the more likely you will go out of business trying to pay taxes. This is B. Obama's plan. Welcome to the "change." Read the link to the whole article. --Clay
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