NewPage Port Hawkesbury will ask the court for a third extension, until March 30, to their Stay Period under the Companies’ Creditors Arrangement Act (CCAA). The company requires the additional time to complete the proposed sale of the Nova Scotia mill to Pacific West Commercial Corp. The company will also inform the court that all of the officers of NewPage Port Hawkesbury, excepting Mill Manager Tor Suther and Controller Jacques Beaudoin, plan to resign to avoid a conflict of interest as they are also on the board of the parent company, NewPage Corp., of Ohio. The company is seeking approval from the court of the appointment of Peter Wedlake (of Green Hunt Wedlake Inc.) as Chief Restructuring Officer (CRO) of NewPage Port Hawkesbury after the resignations.
