TV6 received word that the company, which shut down and announced it was filing for bankruptcy just three weeks ago, is reopening. M-bank, along with the Michigan Economic Development Corporation, has agreed to pay off Manistique Papers' existing loan and free it from bankruptcy.
Senator Tom Casperson says he expects some employees to be called back within the next two weeks.
Also helping in the new financing are some of the managers and investors of MBank.
Stay tuned for further details.