UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Catalyst Paper Corp.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
14889B102
(CUSIP Number)
October 31, 2014
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| Page 2 of 15 Pages |
| 1 | Names of Reporting Persons
Stonehill Capital Management LLC | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
Delaware, USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IA | |||||
| Page 3 of 15 Pages |
| 1 | Names of Reporting Persons
Stonehill Institutional Partners, L.P. | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
Cayman Islands | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
869,681 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
869,681 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
869,681 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
6.0% | |||||
| 12 | Type of Reporting Person (See Instructions)
CO | |||||
| Page 4 of 15 Pages |
| 1 | Names of Reporting Persons
John Motulsky | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
| Page 5 of 15 Pages |
| 1 | Names of Reporting Persons
Christopher Wilson | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
| Page 6 of 15 Pages |
| 1 | Names of Reporting Persons
Wayne Teetsel | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
| Page 7 of 15 Pages |
| 1 | Names of Reporting Persons
Thomas Varkey | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
| Page 8 of 15 Pages |
| 1 | Names of Reporting Persons
Jonathan Sacks | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
| Page 9 of 15 Pages |
| 1 | Names of Reporting Persons
Peter Sisitsky | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
| Page 10 of 15 Pages |
| 1 | Names of Reporting Persons
Michael Thoyer | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) c. ¨ d. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
| Page 11 of 15 Pages |
| 1 | Names of Reporting Persons
Michael Stern | |||||
| 2 | Check the Appropriate Box If a Member of a Group (See Instructions) a. ¨ b. ¨
| |||||
| 3 | SEC Use Only
| |||||
| 4 | Citizenship or Place of Organization
USA | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With |
5 | Sole Voting Power
0 | ||||
| 6 | Shared Voting Power
1,449,468 | |||||
| 7 | Sole Dispositive Power
0 | |||||
| 8 | Shared Dispositive Power
1,449,468 | |||||
| 9 |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,449,468 | |||||
| 10 | Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
¨ | |||||
| 11 | Percent of Class Represented By Amount in Row (9)
9.9% | |||||
| 12 | Type of Reporting Person (See Instructions)
IN, HC | |||||
Page 12 of 15 Pages
ITEM 1(a). NAME OF ISSUER:
Catalyst Paper Corp.
ITEM 1(b). ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
2nd Floor, 3600 Lysander Lane, Richmond, British Columbia, Canada V7B 1C3
ITEM 2(a). NAME OF PERSON FILING:
This initial filing of Schedule 13G is being filed on behalf of the following persons (the “Reporting Persons”):
| (i) | Stonehill Capital Management LLC (“Management”) |
| (ii) | Stonehill Institutional Partners, L.P. (“Institutional”) |
| (iii) | John Motulsky (“Motulsky”) |
| (iv) | Christopher Wilson (“Wilson”) |
| (v) | Wayne Teetsel (“Teetsel”) |
| (vi) | Thomas Varkey (“Varkey”) |
| (vii) | Jonathan Sacks (“Sacks”) |
| (viii) | Peter Sisitsky (“Sisitsky”) |
| (ix) | Michael Thoyer (“Thoyer”) |
| (x) | Michael Stern (“Stern”) |
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
c/o Stonehill Capital Management LLC
885 Third Avenue
30th Floor
New York, NY 10022
ITEM 2(c). CITIZENSHIP:
| Management: |
Delaware limited liability company | |
| Institutional: |
Delaware limited partnership | |
| Motulsky: |
US Citizen | |
| Wilson: |
US Citizen | |
| Teetsel: |
US Citizen | |
| Varkey: |
US Citizen | |
| Sacks: |
US Citizen | |
| Sisitsky: |
US Citizen | |
| Thoyer: |
US Citizen | |
| Stern: |
US Citizen |
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Shares (no par value).
ITEM 2(e). CUSIP NUMBER:
14889B102
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR (C) CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
Page 13 of 15 Pages
ITEM 4. OWNERSHIP:
The information in items 1 and 5 through 11 on the cover pages (pp. 2 -11) on this Schedule 13G is hereby incorporated by reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities check the following. ¨
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
Page 14 of 15 Pages
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: November 7, 2014
| STONEHILL CAPITAL MANAGEMENT LLC* | ||
| By: | /s/ Paul Malek | |
| Paul Malek | ||
| General Counsel | ||
| STONEHILL INSTITUTIONAL PARTNERS, L.P. | ||
| By: | /s/ Paul Malek | |
| Paul Malek | ||
| General Counsel of Stonehill Capital Management LLC, its investment adviser | ||
| JOHN MOTULSKY* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for John Motulsky |
| CHRISTOPHER WILSON* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Christopher Wilson |
| WAYNE TEETSEL* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Wayne Teetsel |
| THOMAS VARKEY* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Thomas Varkey |
| JONATHAN SACKS* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Jonathan Sacks |
| PETER SISITSKY* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Peter Sisitsky |
| MICHAEL THOYER* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Michael Thoyer |
| MICHAEL STERN* |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Michael Stern |
* The Reporting Persons disclaim beneficial ownership in the shares reported herein except to the extent of their pecuniary interest therein, and this report shall not otherwise be deemed an admission that any of them is the beneficial owner of such securities for purposes of Section 13(d) or Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purposes
Page 15 of 15 Pages
EXHIBIT 1
AGREEMENT OF JOINT FILING
Stonehill Capital Management LLC, Stonehill Institutional Partners, L.P., John Motulsky, Christopher Wilson, Wayne Teetsel, Thomas Varkey, Peter Sisitsky, Michael Thoyer, Jonathan Sacks and Michael Stern hereby agree that the Statement on Schedule 13G to which this agreement is attached as an exhibit as well as all future amendments to such Statement, shall be filed jointly on behalf of each of them. This agreement is intended to satisfy the requirements of Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended.
Dated: November 7, 2014
| STONEHILL CAPITAL MANAGEMENT LLC | ||
| By: | /s/ Paul Malek | |
| Paul Malek | ||
| General Counsel | ||
| STONEHILL INSTITUTIONAL PARTNERS, L.P. | ||
| By: | /s/ Paul Malek | |
| Paul Malek | ||
| General Counsel of Stonehill Capital Management LLC, its investment adviser | ||
| JOHN MOTULSKY |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for John Motulsky |
| CHRISTOPHER WILSON |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Christopher Wilson |
| WAYNE TEETSEL |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Wayne Teetsel |
| THOMAS VARKEY |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Thomas Varkey |
| JONATHAN SACKS |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Jonathan Sacks |
| PETER SISITSKY |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Peter Sisitsky |
| MICHAEL THOYER |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Michael Thoyer |
| MICHAEL STERN |
| /s/ Paul Malek |
| Paul Malek |
| Attorney-in-Fact for Michael Stern |