Catalyst Paper pushes creditor meeting back another 5 days
May 12th, 2012 | Posted in Environmental News | 1 comment »
Catalyst Paper has pushed the meetings of its secured and unsecured creditors back another 5 days to May 23.
The creditors are to meet to discuss the plan of arrangement under the Companies’ Creditors Arrangement Act.
“Our discussions are continuing towards the possibility of amending the current plan of arrangement which would better enable Catalyst to emerge from creditor protection on a stronger financial footing, said Kevin J. Clarke, President and Chief Executive Officer. “The additional time is intended to permit these discussions to be successfully completed.”
The rescheduled meetings will be held at a new location, the Westin Wall Centre, Vancouver Airport, 3099 Corvette Way, Richmond, BC at 10:00 am for unsecured creditors and 11:00 am for the First Lien Noteholders.
It is anticipated that the court date to sanction and approve the plan of arrangement will be rescheduled to May 25, 2012.
Source: Catalyst Paper
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Once again, the lawyers and accountants and document prep people get rich with all this nonsense. Here is what you do creditots, and I will tell you this for free:
Close any and all newsprint and directory machines and mills(like Snowflake)
Sell remaining properties to an Asian interest who will import the bulk of your capacity to their shores
Sell physiacl waterfron property to developers for vacation property
All that , no invoice from me. Shit or get off the pot.