Catalyst Paper announces Amended Plan of Arrangement and Creditor Meetings
Jun 14, 2012. Catalyst Paper announced that it is seeking approval of a further amended Plan of Arrangement under the Companies’ Creditors Arrangement Act and will file tomorrow for approval from the Court to set meetings of its secured and unsecured creditors to consider the Amended Plan. Subject to Court approval, the Meetings are tentatively scheduled for June 25, 2012.
Jun 14, 2012. /Lesprom Network/. Catalyst Paper announced that it is seeking approval of a further amended Plan of Arrangement (the Amended Plan) under the Companies’ Creditors Arrangement Act and will file tomorrow for approval from the Court to set meetings of its secured and unsecured creditors to consider the Amended Plan (the Meetings). Subject to Court approval, the Meetings are tentatively scheduled for June 25, 2012.
“We have received consent from a requisite number of our secured noteholders to move forward to a vote on the Amended Plan,” said Kevin J. Clarke, President and CEO. “This reflects the dedication of all parties to work toward a consensual deal that incorporates the many interests involved and that puts our company on better financial footing for the future.”
Catalyst Paper’s Board of Directors is unanimously recommending that all holders of First Lien Notes, Unsecured Notes and General Unsecured Claims vote in favour of the Amended Plan at the Meetings.
Catalyst Paper manufactures diverse specialty mechanical printing papers, newsprint and pulp.