Catalyst Paper has announced that the date for the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act has been changed from May 2, 2012 to May 15, 2012.

The new date was set to allow additional time for Catalyst to consider feedback from its trade and other creditors and to advance discussions in order 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 Chief Executive Officer.

The rescheduled meetings will be held at the same location (Delta Vancouver Airport Hotel, 3500 Cessna Drive, Richmond, BC) at 10:00 am for unsecured creditors and 11:00 am for the First Lien Noteholders.

The court date to sanction and approve the plan of arrangement has also been rescheduled from May 7, 2012 to May 18, 2012.

Source: Catalyst Paper