Catalyst Paper Restructuring Plan not Approved, Sale Now Pending

The SISP outlines the procedures and timelines for soliciting bids to purchase all or substantially all of the assets of Catalyst Paper or to make an investment in the business and operations of Catalyst Paper. It also contemplates that Catalyst Paper will enter into a stalking horse purchase agreement (the Stalking Horse Purchase Agreement) with holders of Catalyst Paper's First Lien Notes for the purchase of all or substantially all of the company's assets on a going concern basis.