Catalyst Paper Announces Successful Completion of Reorganization
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The Amended Plan was overwhelmingly approved at meetings of the company’s secured and unsecured creditors on June 25, 2012 and was approved by the Supreme Court of British Columbia on June 28, 2012.
As part of the reorganization, the company has also entered into the previously announced new asset backed loan (ABL) facility and exit financing facility. Approximately US$35 million was drawn under the exit facility upon the implementation of the Amended Plan.
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