Canwest newspapers’ creditors listed
Newsprint suppliers and financial institutions are owed the most money by Canwest’s publishing side, according to a document filed this week as part of the Companies’ Creditors Arrangement Act (CCAA) proceedings.
The “Senior Subordinated Notes,” with the Bank of New York listed as trustee, is the single biggest creditor at $449,411,375.34. A “Syndicate of Banks Under the Senior Subordinate Credit Agreement” is owed $78,382,191.78 while RBX Dexia Investor Services of Vancouver is owed $3,265,448.24 and CIBC Mellon Global Securities is owed $520,233.68.
Alberta Newsprint Co. is owed $995,692.59. Catalyst Pulp and Paper is owed $238,477.44. Howe Sound Pulp and Paper is owed $433,230.61. Ponderay Newsprint is owed $299,532.56. The White Birch Paper Co. is owed $456,040.09.
Two ink suppliers are also owed substantial amounts: Flint $121,289.81 and Sun Chemical $116,550.64.
B.C. based printing and distribution companies are also on the list of Canwest creditors. Consolidated Printing in Langley is owed $97,422.02; Hemlock Printers in Burnaby is owed $9,664.48; Kodiak Press in Vancouver is owed $358,973.08; Mitchell Press in Burnaby is owed $111,923.84; Quality Insertions in Port Coquitlam is owed $230,445.25; Total Delivery Systems in Victoria is owed $70,096.77; Web Express in Coquitlam is owed $6,212.85.
Among the more unusual creditors listed are:
Outsmart Influenza Health and Prevention of North Vancouver — $5,355.00
Calgary Flames — $114,700.77
City of Saskatoon — $64,916.77
Federated Coop of Saskatoon— $56,108.27
Phil Reimer Commuications — $9,673.79
Regie des Alcools (Quebec liquor board) — $90,000.00
The Salvation Army, Saskatoon — $54,485.00
Finally, Saxotech Integrated Mediaware is owed $11,841.84.
The list of creditors is a manageable 12 pages because the court gave the company permission to list only those creditors owed more than $5,000.
The list of creditors is available online at: http://cfcanada.fticonsulting.com/clp/docs/Canwest%20Limited%20Partnership%20-%20 Known%20Creditor%20List%20as%20at%20January%208,%202010.pdf
This entry was posted on Thursday, January 14th, 2010 at 3:12 pm and is filed under Local News.
