The federal government has written off the balance of two multimillion-dollar loans given to Irving-owned Atlantic Wallboard in Saint John.
The Atlantic Canada Opportunities Agency closed the file on the two loans in March after deciding that the full amount "has not been and likely will never be repaid," according to a memorandum obtained by CBC News.
The two loans, called "conditionally repayable contribution agreements," were worth a combined $7.4 million. They were made under ACOA's Saint John Shipyard Adjustment Initiative.
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