Plan of Arrangement

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.

On November 29, 2010, Fraser Papers Inc. and its subsidiaries (collectively, the “Applicants”) filed a consolidated plan of compromise and arrangement (the “Original Plan”) with the Ontario Superior Court of Justice (Commercial List) (the “Court”) in their restructuring proceedings under the Companies’ Creditors Arrangement Act (“CCAA”).

A meeting of creditors was held on January 10, 2011 to consider and vote on a resolution to approve the Original Plan. The requisite majority of creditors (by value) required to approve the Original Plan pursuant to the CCAA was not obtained and the Original Plan was rejected.

On January 27, 2011, the Applicants filed an amended consolidated plan of compromise and arrangement (the "Amended Plan") with the Court.

At a hearing on February 1, 2011, the Court accepted the filing of the Amended Plan and authorized the Applicants to, among other things, hold another meeting of their Affected Creditors on February 8, 2011 in Toronto, Ontario to consider and vote on the Amended Plan. The Amended Plan and associated meeting materials can be found in the list below. The Monitor's report provides a summary of the changes between the Original Plan and the Amended Plan.

The Applicants and the Monitor held a number of conference calls in December 2010 in order to help Affected Creditors understand the Original Plan, the voting procedures and to provide a forum for questions to be asked of the Applicants and the Monitor regarding the Plan. The slide presentation from the Creditor Information Calls and recordings of the Creditor Information Calls are available in the Creditor Information Calls section of this website.

If you have any questions on the Amended Plan or the voting process, please consult the answers to frequently asked questions below, or you may contact us at 416-815-5118 or 1-877-332-1688. This website will be updated frequently as new information becomes available.

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