Inland Fiber noteholder committee releases previously protected confidential information

By Caroline Salls

Pittsburgh, Oct. 21 - Inland Fiber Group, LLC's ad hoc committee of the holders of its 9 5/8% senior notes due 2007 has disclosed information on discussions regarding the company's indenture defaults and the potential settlement of litigation claims that was previously protected by confidentiality agreements with Inland Fiber, according to a company news release.

The ad hoc committee includes GoldenTree Asset Management LP, OppenheimerFunds, Inc., QVT Financial, LP and Turnberry Capital Management, LP.

In connection with the default discussions, in June, the committee executed a confidentiality agreement with Inland Fiber and received confidential non-public materials regarding Inland Fiber and the litigation.

Under the confidentiality agreement, Inland Fiber said when the agreement terminated in July it would publicly disclose all material information that had been provided to the members of the committee.

Also under the agreement, if Inland Fiber failed to disclose the information, the members of the committee had the right to do so.

Inland Fiber has not complied with the committee's request to disclose the information, so the members of the committee have exercised their rights to do so.

Inland Fiber is a Klamath Falls, Ore., timber grower.

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