Uniforêt's U.S. noteholders lose bid to appeal reorganization

By Jeff Pines

Washington, Feb. 19 - Three strikes and it appears the efforts of a group of Uniforêt Inc.'s U.S. noteholders is out.

The Supreme Court of Canada dismissed a motion seeking permission to appeal a decision of the Court of Appeals, which refused leave to appeal a decision by the Quebec Superior Court approving the company's reorganization plan under the Companies' Creditors Arrangement Act.

The lumber company's reorganization plan was implemented a few months ago.

The noteholders wanted a partial modification of what has been offered to their class of creditors without staying implementation of the company's plan, which was effective as of Aug. 8.

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