Skeena Cellulose Files for Protection

Skeena Cellulose Inc. and its subsidiaries have retained Doug Knowles and Colin Emslie of Fraser Milner Casgrain LLP in Vancouver to file for protection from their creditors under the Companies' Creditors Arrangement Act, Skeena is the largest employer in Prince Rupert, BC, where it operates a pulp mill and several sawmills. The initial order was on September 5, 2001 and the comeback hearing was on October 5, 2001.

The Toronto-Dominion Bank, represented by Barry Dryvynsyde, Q.C. and John Kearns of Bull, Houser & Tupper, and a subsidiary of BC, represented by Clive Bird and Ron Bozzer of the Vancouver office of Borden Ladner Gervais LLP, are the secured creditors being owed in excess of $400 million plus $225 million in deferred debt (pursuant to a 1998 restructuring under the CCAA).


Ron L. Bozzer Barry Dryvynsyde Colin M. Emslie Clive S. Bird