Catalyst Paper Corporation
We represent the Catalyst Salaried Employees and Pensioners group (CSEP), an organization of employees and retirees of Catalyst Paper in the company’s CCAA proceedings. After an initial CCAA Plan of Compromise failed to pass a vote by creditors and resulted in the sale of the company and wind-up of the underfunded salaried pension plan with a $115 million deficit, we were instrumental in negotiating with the company and other creditors for a second CCAA plan to be put forward that avoided the sale of the company and allowed the continuation of the pension plan. The Amended Plan of Compromise passed a creditor vote and ensured that the salaried pension plan continued without any losses to the plan members. Andrew Hatnay and Ari Kaplan led the Koskie Minsky team, with assistance from Demetrios Yiokaris and James Harnum.