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P.E.I. wind turbine maker given more time to devise plan to pay off debt

Published on September 29th, 2009; Published on January 3rd, 2010
The Canadian Press

Topics :: Entegrity Wind Systems , Mercantile Finance , CHARLOTTETOWN

CHARLOTTETOWN - A P.E.I. wind turbine manufacturer has been given a little more time to come up with a plan to pay off $11 million in debts.
Last month, the courts gave Entegrity Wind Systems a 45-day extension to find a way to pay off its bills before forcing it into bankruptcy.
The deadline was Monday, but Entegrity was back in court asking for a further extension.
An interim extension was granted until Oct. 9.
The company owes money to various creditors, including $3 million to its bank, Toronto-based Mercantile Finance.
Entegrity has been fighting numerous court battles to stave off bankruptcy for the past several months.

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