MONTREAL — A Quebec Superior Court judge has declared insolvent the North American branch of battery maker Northvolt as the provincial government looks to recover $260 million owed to it by the company.
Justice Janet Michelin on Friday placed Northvolt Batteries North America under creditor protection following a request earlier in the week from the Quebec government.
Northvolt laid off its entire workforce on Thursday following Economy Minister Christine Fréchette's announcement on Tuesday that the government would provide no more funding for the company's planned electric-vehicle battery plant near Montreal.
The court decision on Friday will allow the company to rehire about 15 employees to maintain the site where the factory was to be built.
The province lost a $270-million investme