Catalyst Paper Corporation is pleased to announce that the Halalt First Nation has discontinued two lawsuits previously commenced against Catalyst. The first claim was filed by Halalt against Catalyst alleging that Catalyst has illegally trespassed on, and caused damages to, Halalt’s asserted territories and fisheries resources through the operation of Catalyst’s Crofton Mill since 1957. The Notice of Discontinuance filed by Halalt in this lawsuit brings this piece of litigation to an end. The second claim was filed jointly by Halalt, Sunvault Energy Inc. and Aboriginal Power Corp. alleging Catalyst disclosed certain confidential information pertaining to a proposed anaerobic digester facility in breach of a confidentiality agreement. The Notice of Discontinuance filed by Halalt in this lawsuit removes Halalt as a plaintiff. Sunvault Energy Inc. and Aboriginal Power Corp. remain as plaintiffs in the lawsuit. Catalyst denies the remaining allegations contained in this claim and intends to continue to vigorously defend itself.
After the release of the stock exchange notice of today at 17:21, the company has been informed that the board of Norske Skog AS has decided to support an extension of the consent solicitation deadline for the board’s recapitalization proposal. However, due to practical matters, it was not possible to make the Norske Skog AS resolution within the deadline at 17:00 CET, and consequently, the offer period has expired.
The discussions with the key stakeholder groups will continue in order to achieve a consensual recapitalization solution for the Norske Skog group during the next days even though the offer period has expired. If these discussions are successful, an updated recapitalization proposal will be launched.