NewPage, Creditors Agree on Chapter 11 Terms

The agreement was reached as part of court-ordered mediation conducted by the court-appointed mediator, Bankruptcy Judge Robert Drain. At the request of certain parties participating in the mediation, the mediator did not provide any of the term sheets proposed by the parties to the mediation (or any of their material terms) to certain other parties participating in the mediation. Rather, the mediator served as an intermediary, facilitating discussion among the parties and encouraging the parties to make concessions in an effort to reach agreement upon a consensual Chapter 11 plan.