In preparation for its emergence from creditor protection, Catalyst Paper has announced a new board of directors. Current board chairman Jeffrey Marshall said the company expects to exit creditor protection in the “very near future.”
In preparation for its emergence from creditor protection, Catalyst Paper has announced a new board of directors. Current board chairman Jeffrey Marshall said the company expects to exit creditor protection in the “very near future.”
The directors were chosen by certain secured and unsecured noteholders in accordance with the terms of Catalyst’s Plan of Arrangement. They are: John Brecker, Giorgio Caputo, John Charles, Todd Dillabough, Walter Jones, and Leslie Lederer.
Kevin J. Clarke, currently president and CEO, and a director of Catalyst Paper, will continue on the new board.
In preparing to turn governance of Catalyst to the new board of directors, chairman Marshall noted that many parties played a vital role in ensuring the second amended Plan of Arrangement was approved by creditors and the courts.
“To achieve this result in such a timely fashion would not have been possible without the dedication and unwavering support of employees, unions, management team, customers, suppliers, retirees and pensioners, as well as the communities where Catalyst operations are located,” he noted.
Catalyst Paper manufactures diverse specialty mechanical printing papers, newsprint and pulp.
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