Voting results – NewPage Port Hawkesbury’s creditors meeting:
The creditors of NewPage Port Hawkesbury met today to vote on the plan of arrangement for the mill.
At 1pm, the general creditors of NewPage Port Hawkesbury met and voted 99.42% in favour of the plan.
The guaranteed US noteholders will meet at 3pm this afternoon.
Pacific West Commerical Corp. has offered to buy the mill for $33 million.
The sale of the mill requires 51% approval from both the American bondholders and the unsecured creditors. If the deal is approved, about $31 million will go to the US bondholders who are owed close to $3 billion.
