NewPage Parent Files for Chapter 11 Restructuring

Separately, the company's Canadian subsidiary, NewPage Port Hawkesbury, has brought proceedings before the Supreme Court of Nova Scotia under the Companies' Creditors Arrangement Act of Canada (CCAA). In order to maximize efficiency in both the U.S. and Canadian Court processes, NewPage and NewPage Port Hawkesbury have executed a Settlement and Transition Agreement, subject to Canadian Court approval.