Uniforet settles bankruptcy (September 01, 2001)
PORT-CARTIER, Que. – After seeking bankruptcy protection last April, Uniforet has come to terms with six of seven classes of its outstanding creditors.
Creditors voted in July to accept a restructuring plan that will see them paid between eight and 51 cents on every dollar owed.
The forestry firm says a plan put forward to U.S. creditors – the only unsettled class – has yet to be voted on. n
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