Canada's Catalyst Paper Pursues Ch. 15 Protection
British Columbia-based Catalyst, through its U.S. affiliate Catalyst Paper Holdings Inc., filed the petition in Delaware bankruptcy court, citing both liabilities and assets in excess of $1 billion.
Under U.S. bankruptcy laws, Chapter 15 grants a foreign company protection from creditors looking to seize its assets in the country.
Catalyst, which says it is...
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