03:32 PM EST - Catalyst Paper Corporation : announced today that to facilitate an orderly restructuring of its business and operations, the board of directors of the company has approved a filing for an Initial Order from the Supreme Court of British Columbia to commence proceedings under the Companies' Creditors Arrangement Act (CCAA). The terms and conditions of the restructuring plan have not yet been determined by the company. Catalyst Paper Corporation
shares T.CTL are trading even at $0.15.
