UPDATE ON CONTINUING DISCUSSIONS WITH CATALYST PAPER

December 15, 2011

UPDATE ON CONTINUING DISCUSSIONS WITH CATALYST PAPER


As reported in the last update on December 13th, discussions between Catalyst Paper, CEP Local Unions and legal counsels concerning CCAA / Bankruptcy process, restructuring of the bondholder debt and possible outcomes have been ongoing over the past three days.

During this period an Independent Forensic Accountant has been reviewing the financial records of the employer to determine the accuracy of their reports to the local unions and this morning will be reporting back to the Locals. In preliminary discussions, he has reported that all the information and data substantiates Catalyst’s information that it requires immediate relief from the bondholders in the form of a reduction in the bond debt and therefore the interest payments that are associated to it.

As indicated in the press release this morning from Catalyst, they are deferring payment on the $21 million US dollar interest payment due on December 15, 2011 and will be taking advantage of the thirty (30) day grace period and delayed interest payment in a move to restructure their bond debt.

Catalyst has assured the Local Unions in a meeting held last evening that the mills will continue to operate during the deferral period in a manner that will see them meet the delivery of the product to their customers and this action will not impact our members’ day-to - day lives.

The Local Unions’ will continue to meet today to discuss the options that are available to them up to and including entering into early negotiations for a renewal of the 2008 – 2012 Labour Agreement. Entering into these discussions is made with the undertaking that any agreement would be contingent upon an agreement being reached with the bondholders to reduce Catalyst’s debt and a standard agreement being reached throughout the three mills.

As was stated by the Catalyst Locals on the conference call – once they enter into the process of bargaining a renewed collective agreement, they will forward a letter stating they are withdrawing from caucus.

The 2012 Executive

Now that the executive elections are done, here is a list of the 2012 CEP Local 592 Executive.

Jim Vandusen - President
Travis Goodyear - Vice President
Owen Paxton - Vice President
Ian Nicholson - Vice President
Adam Currey - Recording Secretary
Brent Hamelin - Financial Secretary
Randy Teichman - Trustee
Andy Bos - Trustee
Dan Rogers - Safety Officer/Trustee

Wage Delegates: Jim Vandusen, Travis Goodyear, Brent Hamelin. Alternate: Adam Currey

In Solidarity,

Adam Currey

Result of the Special Meeting Vote

The result of the vote from today's special meetings was in favor of the Wage Delegates talking with the company. We will keep the local as informed as we can.

In Solidarity

Adam Currey
Recording Secretary

RESULTS OF THE VOTE

The results of the election are in:

Vice President (2 positions, 2 year term)

Doug Chisholm
Ian Nicholson - ELECTED
Owen Paxton - ELECTED


Safety Officer/Trustee (1 position, 1 year term)

Simon Fox
Joan Race
Dan Rogers - ELECTED

Congratulations to those who won, and a sincere thank you to those who put their names forward.

Adam Currey
Recording Secretary

No Forward Look for this Month

Due to recent developments, we will be busy with other work and will not be putting out a Forward Look for December. The purpose of the Forward Look is to keep our members up-to-date with what has happened over the course of the month. As things happen over the next couple of weeks we will keep you informed with this blog, posters in the mill and Jim's e-mail list. If you would like to be added to Jim's list e-mail him at jvandusen592@gmail.com.

And a reminder, the special meetings will be at 2pm and 7pm on Thursday, December 8th.

Adam Currey
Recording Secretary

Special Meetings

There will two special meetings on Thursday, December 8th, at 2:00pm and 7:00pm at Hansen Hall to discuss some very important issues. All members are strongly urged to attend.

In Solidarity

Adam Currey
Recording Secretary.

Local 592 Elections

Local 592 will be holding elections for two positions this month. Elections will be held at the gate November 23rd and November 26th from 4:00am - 8:00am and 4:00pm to 6:00pm. The union hall will be open for voting on November 23rd from 9:00am - Noon and from 1:00pm - 4:30pm.

The nominees are:

Vice President (2 positions, 2 year term)

Doug Chisholm
Ian Nicholson
Owen Paxton


Safety Officer/Trustee (1 position, 1 year term)

Simon Fox
Joan Race
Dan Rogers

At the voting booth we will be handing out Contract Negotiation questionnaires. The Wage Delegates would like your input on which Main Wage issues are important to you so that we can prioritize them to bring to Pre-Wage in February. There will be a ballot box at the guard house or you can drop them off at the hall, if no one is there just drop them off in the mail slot. All questionnaires should be dropped off by December 5th.

In Solidarity

Adam Currey
Recording Secretary
Wage Delegate