Today it was revealed that because of the new legislation set up by the province, British Columbia's logging contractors had managed to win a measure of protection from the monetary failures of forestry companies.

This measure is known as the Forestry Service Providers Protection Act. It was seen that the new act takes place of the previous legislation which started in the early 1900s. The previous legislation was known as the Woodworkers Lien Act.

It was explained by Forest Minister Pat Bell that as an alternative of remaining as unsecured creditors, the logging contractors should be able to apply to the fund which is administered at an arm's length from government.

"By enabling a fund and providing for liens on forest products, we're ensuring that logging contractors will be protected financially. In 2007 when Pope & Talbot declared bankruptcy, not all logging contractors received payment for their services. This act is designed to prevent situations like that from happening again", said Bell in a news release.

Rick Jeffery, CEO of the Coast Forest Products Association said that he supported a healthy, competitive contracting environment that would be beneficial to the whole of the forest sector.