Catalyst Paper Corporation

• 11/1/16 Recap: British Columbia-based paper manufacturer files Chapter 15 in support of a CBCA proceeding a mere four years after a previous CBCA/Chapter 15 restructuring to pursue a sale transaction with Kejriwal Group, an Indian paper manufacturer, and/or delever its balance sheet.
• Jurisdiction: D. of Delaware, Canada
• Capital Structure: $134mm CAD funded RCF, $15mm CAD funded TL, $260mm '17 senior secured PIK Toggle Notes.   
• Company Professionals:
  • Legal: (Canadian counsel) Stikeman Elliott (Guy Martel, Jonathan McLean) & (US Counsel) Sidley Austin LLP (James Conlan, Dennis Twomey, Blair Warner, Allison Ross) & (local) Young Conaway (Edmon Morton, Ashley Jacobs, Matthew Lunn)
  • Financial Advisor: Houlihan
• Other Parties in Interest:
  • Senior Secured Noteholders
    • Legal: Milbank Tweed (Abhilash Raval, Eric Reimer, Haig Maghakian) & (local) Richards Layton (Mark Collins, Michael Merchant, Andrew Dean)
  • Major Shareholders:
    • Mudrick Capital Management, Cyrus Capital Partners, Oaktree Capital Management, Stonehill Capital Management