Terrace Bay Pulp back in court on Wednesday

Buchanan Forest Products, parent company of Terrace Bay Pulp, will be back in court tomorrow.

The company will be asking for the Ontario Superior Court's approval to have a meeting of creditors on June 21, 2010. The purpose of the meeting is to hold a vote on Terrace Bay Pulp's restructuring proposal.

Terrace Bay Pulp is hopeful the company can exit from CCAA (Companies' Creditors Arrangement Act) protection by the end of June.

Sources:

Terrace Bay Pulp Keeps Working to Re-Open (Net News Ledger)

Wednesday Big Day for Terrace Bay Pulp (CKDR Dryden)