Pope and Talbot Ltd.

CCAA Filing Information

Page last updated: July 20, 2012

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.


Status of File as at July 19, 2012

The BC Supreme Court today approved the discharge of PricewaterhouseCoopers Inc., in its capacity as the Monitor, Law & Equity Act Receiver and the Interim Receiver and Receiver of Pope & Talbot Ltd. et al.  The Court also approved the actions and taxed the fees of the Monitor, Interim Receiver and Receiver and its legal counsels.

Status of File as at July 17, 2012

The Monitor and Interim Receiver will be making an application to the Court on Thursday, July 19, 2012 at 9:00 a.m. seeking an Order (i) approving the activities, fees, and disbursements of the Monitor, of the Interim Receiver, and of the Monitor and Receiver's legal counsel; (ii) approving the Receiver's final Statement of Receipts and Disbursements; (iii) authorizing the remittance of any unclaimed D&O distributions to Canada Revenue Agency; and (iv) discharging the Receiver and the Monitor from their duties, among others. The Monitor has prepared its Nineteenth Report, and the Interim Receiver has prepared its Eighteenth Report to Court in support of this application.

Status of File as at June 8, 2011

All assets have been realized upon. Given the short fall to Ableco of approximately $23 million, it is not anticipated that there will be any further distributions to the unsecured creditors.

At this time the Receiver is in the process of winding up its administration of file, including the US Chapter 15 Bankruptcy proceedings.

 

Status of File as at April 22, 2010

On April 21, 2010, the Monitor prepared its Seventeenth Report to Court to inform the Court of the status of the Post-Filing Claim process and seek directions from the Court in relation to (i) the inclusion of a claim by the Province of British Columbia in this process; and (ii) the Monitor’s proposed payout of the funds and exchange rates to be used.

 

Status of File as at February 10, 2010

On February 8, 2010, the Interim Receiver prepared its Sixteenth Report to Court to inform the Court of the status of (i) a settlement with the Steelworkers; (ii) a settlement with CEP; (iii) a settlement offer to be extended to the D&O Claimants comprising the former salaried employees of Pope & Talbot; and (iv) an immediate reduction in the amount of the Directors’ Charge and further reductions as settlement payments were made.

 

Updated Notice to Former Canadian Pope & Talbot Employees re: Unpaid Wage Earner Protection Program Act Payments

24 KB Updated Notice to Former Canadian Pope & Talbot Employees re: Unpaid Wage Earner Protection Program Act Payments (24 KB)

Status of File as at December 15, 2009

On December 11, 2009, the Interim Receiver prepared its Fifteenth Report to Court to seek an Order (i) approving the settlement agreement among the Monitor, the Receiver and the Steelworkers; (ii) approving the settlement agreement among the Monitor, the Receiver and the CEP; (iii) approving a process for the Receiver to make settlement offers to the former salaried employees with outstanding claims against the D&O Claims for wages; and (iv) directing that the Directors’ Charge immediately be reduced from $12.798 million to $3,800,000 and subsequently be reduced upon the payments being made pursuant to the above-referenced settlement agreements.

 
24 KB Notice to Former Canadian Pope & Talbot Employees re: Unpaid Wage Earner Protection Program Act Payments (24 KB)

[November 2, 2009]
On October 29, 2009, the Monitor prepared its Sixteenth Report to Court to inform the Court of the current status of both unpaid claims and unresolved, disputed claims that have been made against both the Directors Charge created in the CCAA proceedings and the directors and officers insurance policies. This information is provided for the Court’s consideration of the Receiver’s motion to reduce the US$ 13 million Directors’ Charge Fund and permit a further distribution to Ableco Finance LLC, the secured creditor herein. The motion will be heard on November 4, 2009.

 
[October 20, 2009]
On October 15, 2009, the Court issued an Order declaring that the D&O Claims of all former salaried employees relating to pension benefits and/or pension contributions are disallowed and that the Monitor is entitled to make certain payments from the funds secured under the D&O Charge.

 
[July 24, 2009]
On July 23, 2009, the Court approved an Order disallowing all or part of the D&O Claims of certain claimants and adjourned others until 10:00 a.m. on August 27, 2009.

 
[July 8, 2009]
On July 22, 2009, the Monitor will make an application to the Court for an order disallowing all or part of the D&O Claims of certain claimants and reducing the amount secured by the Directors' Charge to $5 million.

 
[May 14, 2009]
On May 13, 2009, the Monitor prepared its Fifteenth Report to Court to inform the Court of the status of the Directors and Officers Claim process and to present a plan for dealing with those claims in respect of which Notices of Dispute have been filed in response to the Monitor's disallowance of those claims.

 
[Dec 05, 2008]
On December 2, 2008, the Court issued an order amending paragraphs 5, 6 and 7 and Schedule "C" of the September 29, 2008 Order.

On December 4, 2008, the Court approved an order declaring that K&D Logging Ltd. and Newland Enterprises Ltd. do not have valid and enforceable liens over any of the assets of any of the Petitioners. The Court also approved the sale of Mosquito Creek Lands and discharged the Cherry Ridge Judgment.

 
[Dec 01, 2008]
On November 28, 2008, the Interim Receiver prepared its Fourteenth Report to inform the Court and seek its approval of the (i) Mosquito Creek purchase and sale agreement; (ii) cancellation of Cherry Creek Judgement; and (iii) amendment to the September 29, 2008 Order.

On December 2, 2008 the Receiver will make an application to the Court for Orders (i) declaring that K&D Logging Ltd. does not have a valid claim of lien over any assets of any of the Petitioners; (ii) declaring that Newland Enterprises Ltd. does not have a valid claim of lien over any assets of any of the Petitioners; (iii) approving the sale of certain lands; (iv) discharging the judgment registered against certain lands by Cherry Ridge Management Society; and (v) amending the September 29, 2008 Order.

 
[Nov 24, 2008]
On November 21, 2008, the Court issued an Order approving (i) the transfer of Lot 30 to International Forest Products Limited; (ii) the sale of the Eagle Bay Lands to Sage Investments Ltd.; and (iii) the sale of the Shelter Bay Lands to Shelter Bay Lands Ltd.

 
On November 19, 2008, the Receiver prepared its Thirteenth Report to Court to inform the Court and seek its approval of (i) the revised offer for the Shelter Bay property; (ii) the offer for the Eagle Bay property; and, (iii) the transfer of Lot 30 to International Forest Products Limited. On November 21, 2008, the Receiver will make a motion for an order approving the sales of the properties.

 
[Nov 14, 2008]
On November 7, 2008, the Receiver prepared its Twelfth Report to Court seeking the court's approval for the sale of the Arrow Park property to Hart Construction Consultants for gross sale proceeds of $675,000 which is 3% less than the listing price of $695,000. On November 12, 2008, the Receiver will make a motion for an order approving the sale.

 
On October 29, 2008, the Court issued an Order approving the Sale of Arrow Park (Stobo) Lands and sale of Burton Lands.

 
[Nov 4, 2008]
On October 28, 2008, the Receiver prepared a Supplemental Report to the Eleventh Report to the Court for the sole purpose to inform the Court of 3 additional surplus land sales for which the Receiver is seeking approval of vesting orders. On October 29, 2008, the Receiver made an application for an Order approving the sale of Arrow Park (Stobo) Lands and the sale of Burton Lands.

 
[Oct 30, 2008]
On October 29, 2008, the Court issued an Order amending the September 29, 2008 Order such that the Receiver is authorized to distribute to Ableco any cash in the Receiver's possession in excess of the amount required to satisfy the Priority Claims as at the date of any such distributions.

 
[Oct 28, 2008]
On October 24, 2008, the Interim Receiver prepared its Eleventh Report to Court to inform the Court that the Receiver now holds sufficient cash to fu nd the balance of its administration together with all known and potential priority claims and, accordingly, the Receiver is seeking an order to permit the Receiver to pay out to the Secured Lender all surplus cash.

On October 21, 2008, the Court issued an Order approving the sale of Fosthall Lands. Also, on October 21, 2008, the Court issued an Order dismissing the Notices of Motion of Pulp Paper & Woodworkers of Canada, Local 8 and Communications, Energy & Paperworkers' Union of Canada, Local 1092, dated September 12, 2008 and October 16, 2008, respectively.

 
[Oct 21, 2008]
On October 20, 2008, the Interim Receiver prepared its Tenth Report to Court seeking the Court's approval for the sale of the Fosthall property to Terry and July Chambers (the "Chambers") for gross sale proceeds of $185,000, which is 5% less than the listing of $195,000. Under the current market conditions, the Receiver believes that the Chambers' offer is acceptable. On October 21, 2008, the Interim Receiver will make a motion for an Order approving the sale of Fosthall Lands.

 
[Oct 16, 2008]
On October 15, 2008, the Court issued an Order (i) declaring that Steward Systems Inc. does not have a valid claim of lien over any assets of any of the Petitioners; (ii) permitting Eveready to file a Post-Filing Proof of Claim and that the claim be allowed in the amount of $45,662.49; (iii) declaring that the Needles Authorization, as defined in the November 19, 2007 asset purchase agreement between Pope & Talbot Ltd. and others and Interfor, as amended, has been obtained; (iv) directing Interfor to execute such joint notices as are necessary to direct the payment out to the Receiver of all of funds currently held in the Needles Escrow Account: (v) authorizing and directing the Receiver to execute such joint notices as are necessary to direct the payment out to Interfor of all of the funds currently held in the Forestry Services Escrow Account; and (vi) approving the sale of Beaverdell North Lands.

 
On October 10, 2008, the Receiver prepared its Ninth Report to inform the Court of (i) an update on the International Forst Products Ltd. Asset Purchase Agreement including the Needles Foreshore Area; (ii) payment to Interfor from escrow amounts; (iii) a surplus land sale; (iv) a post-filing claim by Eveready Industrial Services Corporation ("Eveready"); and (v) an update on the interim distributions to Ableco Finance LLC.

 
On Wednesday October 15, 2008, the Receiver will make a motion for an Order: (i) declaring that Steward Systems Inc. does not have a valid claim of lien over any assets of any of the Petitioners; (ii) permitting Eveready to file a Post-Filing Proof of Claim and that the claim be allowed in the amount of $45,662.49; (iii) declaring that the Needles Authorization, as defined in the November 19, 2007 asset purchase agreement between Pope & Talbot Ltd. and others and Interfor, as amended, has been obtained; (iv) directing Interfor to execute such joint notices as are necessary to direct the payment out to the Receiver of all of funds currently held in the Needles Escrow Account: (v) authorizing and directing the Receiver to execute such joint notices as are necessary to direct the payment out to Interfor of all of the funds currently held in the Forestry Services Escrow Account; and (vi) approving the sale of certain lands.

 
On September 29, 2008, the Court issued an Order (i) authorizing and directing the Receiver to make one or more distributions to Ableco Finance LLC; (ii) approving the sale of McCaren Creek and Santa Rosa Lands; (iii) approving the sale of Mennonite Flats Lands; and, (iv) approving the sale of Rialto Creek Lands.

 
[Sep 26, 2008]
On September 25, 2008, the Receiver prepared its Supplemental Report to the Eighth Report to Court to seek the Court's approval for (i) the sale of the Mennonite Flats property to Len Logging Ltd. for gross proceeds of $1,500,000 and (ii) for the sale of the Sublot 6 Rialto Creek property to Summit Land and Timber Ltd. for gross proceeds of $250,000.

 
[Sep 25, 2008]
On September 24, 2008, the Receiver prepared its Eighth Report to Court to inform the Court of (i) the assignment in bankruptcy of the Company; (ii) an update of the Harmac and Mackenzie mill sales; (iii) the status of the surplus land sales; (iv) a motion by PPWC Local 8 in which it asserts a significant trust claim and seeks to have the validity and quantum of its post-filing creditor claim determined; and (v) the status of the surplus cash currently available to make an interim distribution to Ableco.

On September 29, 2008, an application will be made by the Receiver for an Order; (i) authorizing and directing the Receiver to distribute up to $60 million to Ableco Finance LLC from the funds in, or subsequently coming into, the Receiver's possession; and (ii) approving the sale of certain lands.

 
[Sep 10, 2008]
On August 27, 2008, the Court issued an Order (i) extending the time for disputing Notices of Disallowance by the Pulp, Paper and Woodworkers of Canada, Local 8 to 5:00 p.m. on Friday, September 12, 2008; (ii) vesting certain premises situated in the Penticton Assessment Area in Peter and Anna Schroeder and certain premises in TLC The Land Conservancy of British Columbia; and, (iii) extending the Stay of Proceedings to 17:00 (Pacific Time) on October 17, 2008.

 
[Aug 29, 2008]
On August 13, 2008, the Court issued an Order approving the sale of the Harmac pulp mill assets in substantially the form of the agreement of purchase and sale dated August 8, 2008 between the Receiver and the 830274 B.C. Ltd., as detailed in the Receiver's Fifth Report.

 
[Aug 27, 2008]
On August 26, 2008, the Receiver prepared its Seventh Report to Court to inform the Court of the status of the Fort St. James sawmill sales process, Surplus Land Sales, an Interfor APA update, and a stay extension request.

On August 27, 2008, the Receiver will make a motion for an Order: (i) vesting certain lands in the purchasers thereof free and clear of certain encumbrances registered in favour of Ableco Finance LLC; (ii) extending the stay of proceedings until October 17, 2008; and (iii) granting Pope & Talbot Ltd. relief from forfeiture of the fibre supply agreements between it and Canadian Forest Products Ltd.

 
[Aug 22, 2008]
On August 21, 2008, the Court approved an Order for the agreement of purchase and sale dated August 15, 2008 between the Receiver and 0832498 B.C. Ltd. for the purchase and sale of the Mackenzie pulp mill assets.

 
[Aug 21, 2008]
On August 13, 2008, the Court approved an Order (i) authorizing the Monitor, in its sole discretion, to extend the date by which Her Majesty the Queen in Right of the Province of British Columbia (the "Province") must file and serve on the Monitor a notice of motion and supporting affidavit(s) seeking a determination as to the amount of the Province's post-filing claim, if any; (ii) creating rights of subrogation in favour of the Receiver in respect of any payments made by the Receiver; and, (iii) amending Paragraph 2(d) of Schedule "D" to the July 7, 2008 by replacing "FB122525" with "FB122526".

 
[Aug 18, 2008]
On August 15, 2008, the Receiver prepared its Sixth Report to the Court to inform the Court of the status of the sales process for the Mackenzie pulp mill. On August 20, 2008, the Receiver will make a motion for an Order approving the sale of the Mackenzie pulp mill and related assets to 0832498 B.C. Ltd.

On July 30, 2008, the Court issued an Order approving the sale of the Harmac pulp mill assets in substantially the form of the agreement of purchase and sale dated July 29, 2008 between the Receiver and the Purchaser. On the same day, the Court issued an Order approving the purchase and sale of the Harmac pulp mill assets.

 
[Aug 12, 2008]
On August 11, 2008, the Receiver prepared the Receiver's Fifth Report to the Court to inform the Court of (i) the status of the NFP asset purchase agreement; (ii) the receipt by the Receiver of a back-up offer for the Harmac pulp mill; (iii) an amendment to the Fort St. James mill Vesting Order; (iv) the status of the claim of the Province of British Columbia with respect to the post-filing trade creditors claims process; and (v) the Receiver's entitlement to subrogation to the claims of Post-Filing Creditors.

On August 13, 2008, an application will be made by the Receiver for an Order (i) approving an agreement between the Receiver and 830274 B.C. Ltd. for the purchase and sale of the Harmac pulp mill in the event the agreement between the Receiver and Nanaimo Forest Products does not complete; (ii) authorizing the Monitor, in its sole discretion, to extend the date by which Her Majesty the Queen in Right of the Province of British Columbia must file and serve on the Receiver a notice of motion and supporting affidavit material seeking a determination as to the amount of the Province's post-filing claim; (iii) creating rights of subrogation in favour of the Receiver in respect of any payments made by the Receiver on account of any indebtedness of any of the Petitioners where such indebtedness would otherwise constitute a Post-Filing Claim; and, (iv) amending Schedule "D" to the July 17, 2008 Order of the Court.

 
[Jul 30, 2008]
On July 30, 2008, PricewaterhouseCoopers Inc. (the "Receiver") will make an application for an Order authorizing the Receiver to execute such joint notices as are necessary to direct the payment out of International Forest Products Ltd. of funds currently held in escrow accountsin substantially the form of the draft Order.

The Receiver prepared its Fourth Report to the Court dated July 29, 2008 to inform the Court of (i) the status of offers received for the Harmac pulp mill; and (ii) the status of the Receiver's negotiations with Interfor.

 
[Jul 28, 2008]
On July 17, 2008, the Court granted an order authorizing and directing the Receiver to make one or more distributions to Wells Fargo Financial Corporation Canada ("WFFCC") in order to pay to WFFCC all amounts owing to WFFCC under the Definitive Documents and the DIP Credit Agreement. The Receiver shall not make any distribution(s) to WFFCC before July 25, 2008.

 
[Jul 24, 2008]
On July 23, 2008, the Interim Receiver issued its Third Report to Court to inform the Court of (i) the Receiver's State of Receipts and Disbursements to July 18, 2008;(ii) the surplus cash available to fund certain priorities provided for in DIP Credit Agreement and CCAA proceedings and payout Wells Fargo Financial Canada Corporation; and (ii) the status of offers received for the Harmac pulp mill.

 
[Jul 21, 2008]
On July 17, 2008, the Court granted an Order (i) eextending the Stay Period to September 2, 2008; (ii) staying Canfor from terminating the Chip Supply Agreement and the Residual Fibre Agreement until July 18, 2008; (iii) staying Western from terminating the Chip Supply Agreement and Hog Fuel Agreement until July 24, 2008; (iv) amending the Order of May 10, 2008 to delete the words "….that is located in or payable in Canada…" from paragraph 1; (v) amending the Order of May 29, 2008 to extend the date for a Notice of Disallowance to be issued to July 25, 2008; and (vi) amending the date of the Post-Filing Creditor to respond to the Notice of Disallowance to August 22, 2008.

 
[Jul 17, 2008]
On July 16, 2008, the Receiver issued its Second Report to inform the Court of (i) the update on the D&O and Post-Filing Creditors Claim process; (ii) the surplus cash on hand as of July 4, 2008;(iii) the status of assets outside of Canada; and (iv) the status of certain matters between Pope & Talbot Ltd. and International Forest Products Ltd. ("Interfor").

On July 17, 2008, the Receiver will make an application to the Court for an Order (a) extending the Stay Period to September 1, 2008; (b) amending the May 10, 2008 Order such that the Receiver is now appointed receiver and interim receiver of all assets of the Petitioners wheresoever such assets are located; (c) amending the May 29, 2008 Order to extend the date by which the Receiver must deliver any Notices of Disallowance to July 25, 2008; (d) authorizing and directing the Receiver to pay to Wells Fargo Foothills all amounts due and owing from the Petitioners to Wells Fargo; and (e) declaring that the stay of proceedings prevents Interfor from initiating the dispute resolution mechanisms of the November 19, 2007 asset purchase agreement between Interfor and Pope & Talbot Ltd. and others.

 
[Jul 15, 2008]
On July 16, 2008 a motion will be made by PricewaterhouseCoopers Inc. for directions as to whether, if the application of Canadian Forest Products Ltd. ("Canfor") for an Order that the CCAA stay of proceedings does not affect the rights of Canfor under the Chip Supply Agreement ("CSA") and the Residual Fibre Supply Agreement ("RFSA"), as set forth in its Amended Notice of Motion dated May 15, 2008, is granted, Canfor is entitled to terminate the CSA and RFSA.

 
[Jul 8, 2008]
On July 7, 2008 the Court granted an Order (i) extending the Stay Period to July 17, 2008; (ii) staying Canfor from terminating the Chip Supply Agreement and the Residual Fibre Agreement until July 17, 2008; (iii) staying Western Forest Products from terminating the Chip Supply Agreement and Hog Fuel Agreement; and, (iv) approving the purchase and sale to Conifex Inc.

 
[Jul 7, 2008]
PricewaterhouseCoopers Inc., Interim Receiver and Receiver of Pope & Talbot Ltd. (the "Receiver") prepared its First Report to the Court dated July 6, 2008, in anticipation of the scheduled July 7, 2008 hearing to inform the Court on the status of the various sales processes which are managed by the Receiver and of the Company's request for an extension of the Stay of Proceedings. On July 7, 2008, the Receiver will make a motion for an Order (i) extending the Stay Period to August 1, 2008; (ii) staying Canadian Forest Products Ltd. ("Canfor") from terminating the Chip Supply Agreement and Residual Fibre Agreement between Canfor and Pope & Talbot Ltd. until July 21, 2008; and (iii) approving the sale of the Fort St. James sawmill and related assets to Conifex Inc.

 
[Jun 19, 2008]
On June 16, 2008, Her Majesty the Queen in right of the Province of British Columbia made an application for an Order pursuant to Section 39 of the Law and Equity Act, and the Supreme Court of British Columbia approved an Order appointing PricewaterhouseCoopers Inc. Law and Equity Act Receiver of the Petitioners Pulp Mills and Sawmill.

 
[Jun 16, 2008]
On June 13, 2008, the Supreme Court of British Columbia issued an Order approving the Stay Period be extended to July 7, 2008 and staying Canfor and Western from terminating their agreements until July 7, 2008.

 
[Jun 13, 2008]
On June 13, 2008, PricewaterhouseCoopers Inc. will make an application to the Chief Justice of the Supreme Court of British Columbia for an Order (a) extending the Stay Period to July 4, 2008; (b) staying Canadian Forest Products Ltd. ("Canfor") from terminating the Chip Supply Agreement and the Residual Fibre Agreement between Canfor and Pope & Talbot Ltd. until July 4, 2008; and, (c) staying Western Forest products Inc. ("Western") from terminating its Chip Supply Agreement and Hog Fuel Agreement between Western and Pope & Talbot Ltd. until July 4, 2008.

 
[Jun 4, 2008]
On May 29, 2008, the Supreme Court of British Columbia issued an Order approving (a) the sale of the Eagle Bay Lands; (b) completion of the sales of additional redundant lands; (c) completion of the sale to PT Pindo Deli Pulp and Paper Mills; (d) a post-filing claims procedure for unsecured creditors potentially having claims against the Petitioners arising in connection with goods or services provided to any of the Petitioners on or after October 29, 2007 (the "Post-Filing Claims Procedure Order").

 
[May 30, 2008]
On May 29, 2008, the Supreme Court of British Columbia issued an Order directing the Monitor to solicit claims from all Post-Filing Creditors of the Petitioners for the purpose of determining which Post-Filing Creditors will be entitled to be paid under or pursuant to, or otherwise obtaining a benefit under, the carve-out provision of the Debtor-in-Possession Credit and Security Agreement dated November 19, 2007 between the Petitioners, Wells Fargo Financial Corporation Canada and Ableco Finance LLC.

Post-Filing Creditors are those persons having unsecured claims for goods or services provided by that person to any of the Petitioners after October 29, 2007 for which payment has not been received. Post-Filing Claims do not include claims of former employees of any of the Petitioners in respect of severance obligations and do not include claims arising from the termination of any contracts entered into by any of the Petitioners where before or after the Filing Date.

In order to participate in any such distribution, any person having a claim against any of the Petitioners arising on or after October 29, 2007 must deliver to the Monitor a Proof of Claim Form on or before the Claims Bar Date of 5:00 p.m. (Vancouver time) on June 30, 2008.

 
[May 28, 2008]
On May 20, 2008, the Court issued an order extending the Stay Period to 17:00 (Pacific Time) June 13, 2008. The Court also dismissed the application of Canexus Chemicals Canada LP and Canexus U.S. Inc. dated May 5, 2008 for, inter alia, the creation of a charge over the assets of the Petitioners in favour of post-filing trade creditors.

 
[May 23, 2008]
On May 27, 2008, PricewaterhouseCoopers Inc. in its capacity as Receiver will make an application for an Order: (a) declaring that the sale of the Halsey pulpmill shall be conducted under the sole jurisdiction of the United States Bankruptcy Court in the Petitioners' Chapter 7 proceedings; (b) that the Receiver be entitled to affirm and complete or disclaim any contracts entered into by any of the Petitioners prior to the date of the Receiver's appointment for the purchase and sale of any lands of any of the Petitioners located in Canada; (c) declaring that the Receiver has no obligation to carry out the terms of that certain asset purchase agreement between Pope & Talbot, Inc., and Pope & Talbot Ltd. as seller and PT Pindo Deli Pulp and Paper Mills as purchaser; (d) declaring that the Receiver is at liberty to market and sell the Purchased Assets free and clear of any claims of PT Pindo Deli Pulp and Paper Mills; (e) that a charge over the assets of the Petitioners be created in favour of the Province of British Columbia (the "Province") as security for any amounts paid by the Province to the Receiver under the indemnity agreement between those parts to fund the costs of any environmental remediation undertaken by the Receiver; and (f) establishing a claims process in respect of the claims of post-filing creditors of the Petitioners.

On May 15, 2008, the Court issued an Order extending the Stay Period to May 20, 2008.

 
[May 21, 2008]
By the order of the Honourable Mr. Chief Justice Brenner dated April 22, 2008 and by the order of the Honourable Mr. Justice Sontchi of the United States Bankruptcy Court for the District of Delaware dated April 22, 2008, the Petitioners have been authorized to conduct a claims procedure for the determination of claims against current and former directors and/or officers of the Petitioners (the "D&O Claims Procedure").

The D&O Claims Procedure is intended for any Person with a D&O Claim against one or more of the Directors or Offices of the Petitioners which arose or arises in connection with or as a result of such Director's and Officer's position as a Director or Officer. A copy of the D&O Claims Procedure Order and the D&Oamp; Claims Package (including D&O Proof of Claim form) is attached.

Any person who believes that it has a D&O Claim should send a D&O Proof of Claim to the Petitioners c/o PricewaterhouseCoopers Inc., in its capacity as Court -appointed Monitor of the Petitioners, to be received by 4:00 p.m. (Pacific Time) on June 30, 2008 (the "D&O Clams Bar Date").

 
[May 12, 2008]
On May 10, 2008, the Supreme Court of British Columbia (the "Court") issued an Order appointing PricewaterhouseCoopers Inc. as interim receiver and receiver of certain assets of the Petitioners, as defined in the Amended and Restated and Confirmed Initial Order. On the same date, the Court issued an Order extending the Stay Period to May 15, 2008.

On May 13, 2008, the Court issued an Order amending the D&O Claims Procedure Order.

 
[May 12, 2008]
Pope & Talbot Ltd. and the Petitioners (the "Petitioners") have adjourned their stay extension application originally returnable May 10, 2008, until Thursday May 15, 2008 at 10:00 a.m. On May 10, 2008, at the receivership application motion being brought by the Monitor, the Petitioners shall only be seeking an extension of the stay, on consent, from Monday May 12, 2008 through to Thursday May 15, 2008.

 
[May 9, 2008]
On May 10, 2008, a motion will be made by Pope & Talbot Ltd. and the Petitioners for an order that extends the stay of proceedings to July 11, 2008.

On May 10, 2008 PricewaterhouseCoopers Inc. ("PwC") in its capacity as Court Appointed Monitor, at the request of Pope & Talbot Ltd. and the Petitioners (the "Petitioners"), will make an application to be appointed as interim receiver and receiver (the "Receiver") of the Petitioners. The basis for seeking the appointment are (i) the Petitioners have no further funding available to them and are idling their pulp mills; (ii) there is potential for massive environmental liability if the Petitioners are unable to maintain the mills and they have no funds to do so; (iii) the Petitioners themselves are desirous that a Receiver be appointed; and (iv) PwC has been assistant management of the Petitioners and is intimately familiar with the assets of the Petitioners and the status of the sale of the assets of the Petitioners and has consented to Act as Receiver.

 
[May 7, 2008]
On April 22, 2008 the Supreme Court of British Columbia ("the Court") granted an Order approving a Directors and Officers Claims Procedure. At the same time, the Court granted an Order (i) amending the Approval and Vesting Order (Pulp Business Assets) dated February 12, 2008; (ii) amending the Approval and Vesting Order (Interfor Sale) dated January 7, 2008; (iii) amending the Approval and Vesting Order (Fort St. James Mill) dated February 20, 2008; (iv) authorizing Columbia Pulp and Paper Ltd. to execute, deliver and file any document, agreement or instrument necessary or reasonably required to release or terminate of any record any liens, charges or security interests on or in the Purchased Assets; and (v) approving the Stay Period be extended until 5:00 p.m. (Pacific Time) April 28, 2008.

 
[May 5, 2008]
On May 4, 2008, the Monitor filed its Fourteenth Report to update the Court on (i) the status of the various sales processes; (ii) the current operations of Pope & Talbot Ltd., including the actual receipts and disbursement of the Company for the period from April 18, 2008 to April 25, 2008; (iii) the Company's post-filing creditor obligations; (iv) the Company's updated case flow forecast for the period from May 1, 2008 to May 9, 2008; and, (v) the Company's request for an extension of the Stay of Proceedings to May 12, 2008.

On May 5, 2008, a motion will be made by Pope & Talbot Ltd. and the Petitioners to seek the Court's approval on the sale of a certain redundant and surplus property to the ongoing and future operations of Pope & Talbot Ltd. and request an extension of the Stay of Proceedings to May 12, 2008.

 
[Apr 29, 2008]
On April 28, 2008, the Supreme Court of British Columbia approved an order extending the stay period to May 5, 2008.

 
[Apr 28, 2008]
On April 28, 2008, the Monitor filed its Thirteenth Report to update the Court on (i) the current operations of Pope & Talbot Ltd.; (ii) the Company's updated cash flow forecast for the period from April 18, 2008 to May 2, 2008; (iii) an update on the status of the asset sales transactions; (iv) the Company's post-filing creditor obligations; and (v) the Company's request for an extension of the Stay of Proceedings to May 5, 2008 (Notice of Motion).

 
[Apr 22, 2008]
On April 21, 2008, the Monitor filed its Twelfth Report to update the Court on (i) the current operations of Pope & Talbot Ltd.; (ii) the status of the asset sales transactions; (iii) the Company's request for an order approving a claims process to solicit and quantify claims against current and former directors and/or officers of the Company; (iv) the Company's request for the various orders considered necessary by the Company to close the Interfor, Pulp and Fort St. James asset sales; and (v) the Company's request for an extension of the Stay of Proceedings to June 10, 2008.

 
[Apr 22, 2008]
On April 22, 2008, a motion will be made by Pope & Talbot Ltd. and the Petitioners for an order that (1) approves a claims process to solicit and quantify claims against current and former directors and /or officers of the Petitioners; (2) amends the Approval and Vesting Order (Pulp Business Assets); (3) approves the assignment of the Chip and Pulp Log Supply Agreement; (4) amends the Approval and Vesting Order (Interfor Sale); (5) amends the Approval and Vesting Order (Fort St. James Mill); and, (6) extends the stay of proceedings to June 10, 2008.

 
[Apr 10, 2008]
On April 10, 2008, the following orders, dated March 31, 2008, issued by the Supreme court of British Columbia were received (i) an order amending the terms of the Approval and Vesting Order dated January 7, 2008; (ii) an order approving the sale transactions in respect of certain redundant and surplus property (the "Sale Order"); and (iii) an order extending the Stay Period until April 25, 2008.

 
[Mar 28, 2008]
On March 28, 2008, the Monitor prepared its Eleventh report to inform the Court of (i) an update on various sales processes; (ii) an update on the actual receipts and disbursements of the Company for the period from February 16, 2008 to March 14, 2008; (iii) the Company's updated cash flow forecast for the period from March 15, 2008 to April 25, 2008; (iv) an update on the Creditors Claims Process; and (v) The Company's appointment of a Chief Restructuring Officer including the Company's request for an extension of the Stay of Proceedings.

The company's account payable balances are currently estimated to be approximately US$10 million. As previously reported, the current DIP Credit Agreement places a cap of US$2 million on the portion of trade and utility payments which forms part of the Agreed Administrative Expense Priorities, and which would be paid in advance of the Secured Creditor position.

The company anticipates that as one or more of the Transactions close, the balance of post-filing trade payables will decrease. However, it is possible that if the Secured Creditors enforce on their security prior to the company closing these Transactions, or if one or more of the Transactions change materially from current estimates, there could be a shortfall to the Secured Creditors and insufficient funds to pay all of the outstanding post-filing trade creditors in excess of US$2 million.

 
[Mar 28, 2008]
On March 31, 2008, Pope & Talbot Ltd. and the Petitioners will make a motion for an order approving the agreements of purchase and sale to 0815920 B.C. Ltd. for land and premises located in Kootenays, British Columbia and to Ilkay Development Corporation for land and premises located in Shelter Bay, British Columbia. At the same time, the Petitioners will seek an extension of the Stay Period through to May 23, 2008.

 
[Mar 27, 2008]
On February 26, 2008 the Court approved the Third Amendment to the Company's Debtor in Possession Credit Agreement (the "DIP Credit Agreement"). The Third Amendment, among other things, places a cap of US$2 million on the portion of trade and utility payments which forms part of the Agreed Administrative Expense Priorities, and which would be paid in advance of the Secured Creditor position. The original DIP Credit Agreement did not contain a cap.

As you should know, the Court has approved four sale transactions (the "Transactions") which will result in the sale of substantially all of Pope & Talbot's business. The company is working to close these transactions. The company anticipates that the proceeds from these transactions will be sufficient to pay off all Secured Creditors and all post-filing creditors.

The company has typically maintained a post-filing trade accounts payable balance in excess of US$2 million. The company anticipates that as one or more of the Transactions close, the balance of post-filing trade payables will decrease. However, it is possible that if the Secured Creditors enforce on their security prior to the company closing these Transactions, or if one or more of the Transactions change materially from current estimates, there could be a shortfall to the Secured Creditors and insufficient funds to pay any outstanding post-filing trade creditors in excess of US$2 million.

If post-filing trade creditors have further questions, they should contact Alex Grant at +1 604 806 7050 ext. 4944.

 
[Mar 13, 2008]
On March 13, 2008, a copy of the signed order dated February 26, 2008 (the "Claims Procedure Order"), issued by the Supreme Court of British Columbia was received authorizing and approving a claims process to solicit and quantify claims against the Petitioners under the Companies Creditors' Arrangement Act.

In addition, on the same day, a copy of the signed order dated February 26, 2008 (the "Amendment to the DIP Credit Agreement Order"), was issued by the Supreme Court of British Columbia approving the Amendment to the Debtor-In-Possession Credit and Security Agreement.

 
[Mar 5, 2008]
On February 26, 2008 the Court approved a claims process to solicit and quantify claims against the Petitioners under the Companies Creditors' Arrangement Act. On March 4, 2008, in accordance with the Claims Procedure Order, the Petitioners mailed out a Claims Bar Date Package to all know creditors and arranged publication of a notice to creditors in the Globe and Mail (National Edition) and the Vancouver Sun.

Any person who believes that it has a claim against the Petitioners should refer to the section below headed "Notice to Creditors of Claims Procedure and Claims Bar Date".

 
[Mar 4, 2008]
On March 3, 2008, a copy of the signed order dated February 20, 2008 (the "Approval and Vesting Order (Fort St. James Mill)"), issued by the Supreme Court of British Columbia was received authorizing and approving the sale of the Petitioners' sawmill and related timber tenures located in Fort St. James, British Columbia to PT Pindo Deli Pulp and Paper Mills.

 
[Feb 26, 2008]
On February 25, 2008, the Monitor prepared its tenth report to the Court to inform the Court of the Company's request for (i) Court approval of a claims process to solicit and quantify claims against the Petitioners under the Companies Creditors' Arrangement Act and a cross-border claims protocol as described in the proposed Order to coordinate the filing and resolution of claims against the Company; (ii) the Comapny's request for Court approval of the Amendment to the Debtor-In-Possession Credit and Security Agreement; and (iii) the actual receipts and disbursements of the Company for the period from February 2, 2008 to February 15, 2008.

 
On February 19, 2008, a copy of the signed order dated Febrary 12, 2008 (the "Approval and Vesting Order (Midway Mill)"), issued by the Supreme Court of British Columbia was received authorizing and approving the sale of the Petitioners'sawmill and related timber tenures located in Midway, British Columbia to Fox Lumber Sales Inc. The Court also approved the order dated February 12, 2008 (the "Approval and Vesting Order (Pulp Business Assets)") for the sale of the Petitioners' sawmill and related timber tenures located in Fort St. James, British Columbia to PT Pindo Deli Pulp and Paper Mills. In addition, the Court approved an order extending the Stay Period until April 4, 2008.

 
On February 19, 2008, the Monitor prepared its ninth report to the Court to inform the Court of the Monitor's findings in respect of the suggestions by the unsuccessful bidder in the auction sales process for Fort St. James sawmill and the request of certain logging contractors that International Forest Products Ltd, the approved purchaser of certain sawmills, is required to assume their logging contracts.

 
[Feb 12, 2008]
On February 11, 2008, the Monitor prepared its eighth report to Court (the "Eighth Report") in order to provide an update to the Court on (i) the various sales processes which were previously approved by the Court; (ii) the Company's request for Court approval of the sales to PT Pindo Deli Pulp and Paper Mills; (iii) the Company's receipts and disbursements for the period from November 10, 2007 to February 1, 2008; (iv) the Company's updated cash flow forecast for the period from February 2, 2008 to April 4, 2008; and, (v) the Company's request for an extension of the Stay of Proceedings to April 4, 2008.

 
[Feb 11, 2008]
On February 12, 2008, Pope & Talbot Ltd. and the Petitioners will make a motion for an order approving the sale of the Petitioners' sawmill and related timber tenures located in Fort St. James, British Columbia to PT Pindo Deli Pulp and Paper Mills. The Petitioners' will also seek an order approving the sale of the Petitioners' sawmill and related timber tenures located in Midway, British Columbia to Fox Lumber Sales Inc.

 
[Feb 8, 2008]
On February 12, 2008, Pope & Talbot Ltd. and the Petitioners will make a motion for an order approving the sale of the Petitioners' assets related to their business of the manufacture and sale of kraft pulp and related products to PT Pindo Deli Pulp & Paper Mills. The Petitioners' will also seek an order extending the Stay Period to April 4, 2008.

 
[Jan 29, 2008]
On January 28, 2008, a copy of the signed Order dated January 16, 2008(the "Pulp Stalking Horse Order"), issued by the Supreme Court of British Columbia (the "Court") was received authorizing the Petitioners to enter into the Asset Purchase Agreement dated January 8, 2008, among the P & T Entities and the PT Pindo Deli Pulp & Paper Mills (the "Staking Horse Bidder"). The Court also approved the Break-up Fee, the Amended Pulp Bidding Procedures, the Notice of Auction and Sale Hearing, the Auction Overbid Protections, all as defined in the Asset Purchase Agreement. In addition, the Court extended the Stay Period to February 15, 2008.

 
[Jan 18, 2008]
On January 18, 2008, a copy of the signed Approval and Vesting Order (Interfor Sale) issued by the Supreme Court of British Columbia was received, which approved the sale transaction contemplated by the agreement of purchase and sale between the Petitioners and International Forest Products Limited.

 
[Jan 15, 2008]
On January 14, 2008, the Monitor prepared its seventh report to Court (the "Seventh Report") in order to inform the Court of (i) the Company's request for approval of the Stalking Horse Agreement for the Pulp Products Division (both as defined in the Seventh Report); (ii) an update on the various sales processes which were previously approved by the Court; and (iii) and the Company's request for an extension of the Stay Period to February 15, 2008.

 
[Jan 10, 2008]
On January 15, 2008, Pope & Talbot Ltd. and the Petitioners listed in Schedule "A" will make a motion for an order approving the asset purchase agreement entered into among Pope & Talbot Ltd., Pope & Talbot, Inc., Pope & Talbot Pulp Sales U.S., Inc., Mackenzie Pulp Land Ltd., and P&T Power Company and PT Pindo Deli Pulp & Paper Mills on January 8, 2008 for the sale of substantially all of the Petitioners' Pulp Business Assets; approving the provisions of the Asset Purchase Agreement with respect to the Break-up Fee; approving the amendments to the Bidding Procedures and the Notice of Auction and Sale Hearing; approving the Auction Overbid Protections; and granting the Petitioners an extension of the Stay Period to February 15, 2008.

On January 4, 2008, a copy of the signed Wood Bidding Procedures Order issued by the Supreme Court of British Columbia was received approving the Bidding Procedures and authorizing the scheduling of an auction.

 
[Jan 8, 2008]
On January 4, 2008, the Monitor prepared its Sixth Report to the Court in anticipation of the scheduled January 7, 2008 joint hearing of the B. C. Court and the U. S. Court related to the company's application for approval of the sale of certain Wood Products Division assets to International Forest Products Ltd. ("Interfor"). The Monitor will inform the Court of the Company's request for Court approval of the sale to Interfor, an update on the Company's operations and an update on the various sales processes which were previously approved by the Court.

 
[Dec 20, 2007]
On December 19, 2007, a copy of the signed orders issued by the Supreme Court of British Columbia were received, as follows:
  1. Order dated December 6, 2007, (the "Pulp Bidding Procedure Order"), approving the bidding procedures, set forth in Schedule "B" to the order, and authorizing and scheduling of an auction (the "Auction"), if necessary, for certain of the assets of the Petitioners relating to their pulp products business;
  2. Order dated December 6, 2007 ( the "Remaining Wood Products Bidding Procedure Order") approving the bidding procedures, set forth in Schedule "BB" to the order and authorizing and scheduling of an auction (the "Auction") for certain of the assets of the Petitioners related to their Remaining Wood Products Business; and
  3. Order dated December 14, 2007 (the "Cross-Border Insolvency Protocol Order") approving the Cross-Border Insolvency Protocol (the "Protocol"), attached as Schedule "B" to the order, and , upon approval of the Protocol by the Court, all interested parties to the CCAA proceedings and Chapter 11 Bankruptcy proceedings shall be governed by the Protocol.
[Dec 18, 2007]
On January 7, 2008, Pope & Talbot Ltd. and the Petitioners listed in Schedule "A" will make a motion for an order approving the sale of the Petitioners' Principal Wood Products Assets (as defined in the Monitor's Third Report) to International Forest Products Limited ("Interfor") and vests the Principal Wood Products Assets in Interfor free and clear of encumbrances; and granting the Petitioners leave to file the Confidential Schedules (as defined in the Affidavit of R. Neil Stuart, sworn December 18, 2007) to the Interfor APA under seal.

 
[Dec 13, 2007]
On December 13, 2007, the Monitor filed its fifth report (the “Fifth Report”) to the Court to inform the Court of (i) the Company's request for approval of a Cross-Border Insolvency Protocol; (ii) the status of the Pulp Products Division and the Remaining Wood Products Divisions sale process (all as defined in the Third Report); and (iii) report on various other matters regarding the Company's restructuring process, including the application of Kitwanga to be released from the stay of proceedings.

 
[Dec 12, 2007]
A Notice of Motion, to be heard on December 14, 2007, has been made by Pope & Talbot Ltd. and the Petitioners for an order approving a cross-border insolvency protocol to govern the conduct of all parties in interest in the Canadian insolvency and U.S. bankruptcy proceedings.

 
[Dec 6, 2007]
A Notice of Motion, to be heard on December 6, 2007, has been made by Pope & Talbot Ltd. and the affiliates listed in Schedule "A" (the "Petitioners"), for an order approving the bidding procedures to govern an Auction of the Petitioners' remaining wood products business assets.

On December 5, the Monitor prepared its fourth report to the Court (the "Fourth Report") to inform the Court of the status of the Petitioners' restructuring, the status of the various sales processes and the Company's request for the approval of a sales process for the Pulp Products Division and the Remaining Wood Products Division (both as defined in the Fourth Report).

 
[Nov 29, 2007]
A Notice of Motion, to be heard on December 6, 2007, has been made by Pope & Talbot Ltd. and the affiliates listed in Schedule "A" (together the "Applicants"), for an order approving the biding procedures and the scheduling of an auction to govern the sale of certain of the Applicants' pulp products business assets.

 
[Nov 29, 2007]
A Notice of Motion, to be heard on November 29, 2007, has been made by certain post-petition trade creditors (the "Post-Petition Trade Creditors") who supply or have supplied goods or services on or after October 29, 2007, to Pope & Talbot Ltd. and the applicants listed in Schedule "A" (together, "Pope & Talbot") for an order granting the Post-Petition Trade Creditors a charge in all of Pope & Talbot's property as security for repayment of all amounts owed to them, to a maximum of $5 million, and an order requiring Pope & Talbot to pay the legal and financial advisors of the Post-Petition Trade Creditors and extending the benefit of the Administration Charge created by the Initial Order to such legal and financial advisors.

On November 28, 2007, the Monitor filed its third report (the "Third Report") to the Court to inform the Court of the status of the restructuring, the assets and liabilities generally of the Company, the Company's request for approval of a sales process for certain assets of the Wood Products Division (as defined in the Third Report) and the review by the Monitor's counsel of certain personal property security granted by the Company to their existing secured lenders in Ontario and British Columbia.

 
[Nov 28, 2007]
On November 29, 2007, a hearing will be held for a Motion made by Pope & Talbot Ltd. and the Petitioners for an order approving a Bidding Procedure for the sale of certain wood products business assets contemplated in an asset purchase agreement among Pope & Talbot Ltd. and International Forest Products Limited; and approve the sale of certain redundant and surplus properties.

 
[Nov 26, 2007]
A Notice of Motion, to be heard on November 29, 2007, has been made by Pulp, Paper and Woodworkers of Canada, Local 8, and the Communications, Energy and Paperworkers' of Canada, Local 1092 to the Supreme Court of British Columbia requesting an amendment to paragraph 62 of the Amended and Restated and Confirmed Order requesting that a separate trust fund be established to secure the payment of wages of employees working under all collective agreements.

 
[Nov 23, 2007]
On November 21, 2007, the Supreme Court of British Columbia (the "BC Court") made an Order (the "Amended and Restated and Confirmed Initial Order") to accept the transfer of the proceedings under the Companies' Creditors Arrangement Act (the "CCAA Proceedings") from the Ontario Superial Court of Justice (Commercial List) and to assume primary jurisdiction of the CCAA Proceedings.

In addition, the BC Court (i) declared that the terms of the Initial Order shall be operative and the terms of the Initial Order are amended and restated by the terms of the Amended and Restated and Confirmed Initial Order (ii) approved the debtor-in-possession financing facility; and (iii) approved the extension of the Stay Period to January 16, 2008.

 
[Nov 21, 2007]
On November 20, 2007, the Monitor filed its Second Report with the court, the purpose of which, amongst other things was to (i) inform the Court of the transfer of the proceedings under the Companies' Creditors Arrangement Act (the "CCAA Proceedings") to the British Columbia Supreme Court (the "BC Court"); (ii) the commencement by the Applicants of proceedings under Chaper 11 of the United States Bankruptcy Code www.kccle.net; (iii) the Applicants' request for the approval of the debtor-in-possession financing facility; (iv) the execution by the Applicants of an asset purchase agreement on November 19, 2007, with International Forest Products Limited as a "staking-horse"; and (v) the Applicant's request for an extension of the Stay Period to January 15, 2008. The motion is scheduled to be heard on November 21, 2007.

 
[Nov 19, 2007]
On November 19, 2007, the Ontario Superior Court of Justice issued an Order that Pope & Talbot Ltd. Court File No. 07-CL-7245 be transferred to the British Columbia Supreme Court and that the proceedings in Ontario continue pending continuation of the proceedings in the British Columbia Supreme Court.

On November 19, 2007, Pope & Talbot Ltd. (the "Applicants") will make a motion for an order transferring the CCAA proceedings from the Ontario Superior Court of Justice (Commercial List) to the British Columbia Supreme Court.

 
[Nov 15, 2007]
A hearing has been scheduled for November 23, 2007, with respect to a motion made by the Province of British Columbia for an order declaring that the British Columbia Supreme Court, not the Ontario Court, is the forum conveniens for the proceedings commenced by the Applicants, under the Companies Creditors' Arrangement Act R.S.C. 1985, c. C-36, as amended (the "Proceedings"), and requesting that the British Columbia Supreme Court accept the continuation of the Proceedings, recognize the Initial Order and all subsequent Orders and the Proceedings in Ontario be stayed pending continuation of the Proceedings in the British Columbia Supreme Court.

 
[Nov 12, 2007]
On November 9, 2007, the Monitor filed its First Report to the Court to inform the court of the Applicants' operations and progress from October 29, 2007.

 
[Nov 8, 2007]
On November 2, 2007, Pope & Talbot Ltd. issued a creditor notification to answer general questions from their employees, customers, suppliers and other stakeholders. See attached for a copy of the letter.

 
[Nov 2, 2007]
On November 2, 2007, the Ontario Superior Court of Justice granted an Order amending subparagraph 49(a) of the Initial Order authorizing the Applicants to utilize cash flows up to $23 million for the period ending November 9, 2007 and amending paragraph 16 of the Initial Order by adding that "Nothing in this Order shall prohibit the Applicants, or any one of them, from making an application for relief pursuant to the United States Bankruptcy Code as they deem necessary".

 
On November 2, 2007, Pope & Talbot Ltd. and those affiliates listed in Schedule "A" (the "Applicants") will make a motion before the Court seeking authorization to amend subparagraph 49(a) of the Initial Order authorizing the Applicants to utilize cash flows up to $23 million for the period ending November 9, 2007 and to amend paragraph 16 of the Initial Order by adding "Nothing in this Order shall prohibit the Applicants, or any one of them, from making an application for relief pursuant to the United States Bankruptcy Code as they deem necessary".

 
[Oct 30, 2007]
On October 29, 2007, the Ontario Superior Court of Justice Commercial List (the "Court"), granted an Order (the "Initial Order") providing protection for Pope & Talbot Ltd.and those affiliates listed in Schedule "A" (the "Applicants") pursuant to Companies' Creditors Arrangement Act ("CCAA") and PricewaterhouseCoopers Inc. ("PwCI") was named as Monitor (the "Monitor"). A stay of proceedings was granted until November 23, 2007 (the "Stay Period"). Although not Applicants, those partnerships listed in Schedule "B" are also protected by the Initial Order and the Stay Period. A copy of the Order is available on this web site below under the heading "Court Orders".

24 KB Schedule "A"
24 KB Schedule "B"

Pursuant to the Initial Order, the Applicants shall, within seven (7) days, send a notice to its known creditors, other than employees and creditors to which the Applicants owe less than $5,000, notifying them of this filing and the address of the Monitor's website where a copy of the Initial Order is posted. In addition, in accordance with the Initial Order, the Monitor is relieved of its obligation under Section 11(5) of the CCAA.

 

[Oct 29, 2007]
On October 29, 2007, Pope & Talbot Ltd. and those affiliates listed in Schedule "A" (the "Applicants") made an application for protection from its creditors pursuant to the provisions of the Companies' Creditors Arrangement Act ("CCAA") and requested a stay of proceedings (the "Stay"). The Partnerships listed in Schedule "B" are also included in the Stay.

 

This Web site will be updated as information becomes available.