The newly constructed St. Jude\u2019s Anglican Cathedral in Iqaluit, Nunavut, may close its doors unless funds are raised to pay the balance of its construction debt, according to the diocese of the Arctic.<\/p>\n
The diocese has paid more than $7.5 million toward the cost of constructing the cathedral, but still owes the construction giant, Dowland Contracting Ltd., about $3 million.<\/p>\n
The diocese had been paying this debt as funds were raised, based on an \u201cinformal arrangement worked out directly with the [company],\u201d\u009d said its diocesan bishop, David Parsons. However, in May, Dowland Contracting Ltd. was put into receivership; it filed for bankruptcy protection in July.<\/p>\n
The receiver, Alvaraz and Marsal Canada, Inc., is now asking the diocese for immediate payment of the $3 million debt, plus $30,000 per month in interest.<\/p>\n