Catalyst Paper Resets Creditors Meeting Date
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For the second time in recent weeks, Catalyst Paper, Richmond B.C., Canada, has changed the date for meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies' Creditors Arrangement Act of Canada. The date has now been moved form May 2 to May 15, allowing additional time for Catalyst to consider feedback from its trade and other creditors and to advance discussions to gain further support for the restructuring.
"We are taking the additional time to work through a very complicated process and to ensure the many interests involved are fully considered. We are continuing our efforts to bring a consensual deal to a satisfactory conclusion," said Kevin J. Clarke, president and CEO. The court date to sanction and approve the plan of arrangement has also been rescheduled from May 7 to May 18.
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