0001193125-16-455063.txt : 20160209 0001193125-16-455063.hdr.sgml : 20160209 20160209133934 ACCESSION NUMBER: 0001193125-16-455063 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20160209 DATE AS OF CHANGE: 20160209 GROUP MEMBERS: CHRISTOPHER WILSON GROUP MEMBERS: JOHN MOTULSKY GROUP MEMBERS: JONATHAN SACKS GROUP MEMBERS: MICHAEL STERN GROUP MEMBERS: MICHAEL THOYER GROUP MEMBERS: PETER SISITSKY GROUP MEMBERS: STONEHILL INSTITUTIONAL PARTNERS, L.P. GROUP MEMBERS: THOMAS VARKEY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CATALYST PAPER CORP CENTRAL INDEX KEY: 0001144906 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] IRS NUMBER: 980138030 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79409 FILM NUMBER: 161398569 BUSINESS ADDRESS: STREET 1: 2ND FLOOR STREET 2: 3600 LYSANDER LANE CITY: RICHMOND BC CANADA STATE: A1 ZIP: V7B 1C3 BUSINESS PHONE: 604 247-4400 MAIL ADDRESS: STREET 1: 2ND FLOOR STREET 2: 3600 LYSANDER LANE CITY: RICHMOND BC CANADA STATE: A1 ZIP: V7B 1C3 FORMER COMPANY: FORMER CONFORMED NAME: NORSKE SKOG CANADA LTD DATE OF NAME CHANGE: 20010713 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STONEHILL CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001266227 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 885 THIRD AVE STREET 2: 30TH FL CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212 739 7474 MAIL ADDRESS: STREET 1: 885 THIRD AVE STREET 2: 30TH FL CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: STONEHIL CAPITAL MANAGEMENT LLC DATE OF NAME CHANGE: 20031006 SC 13G/A 1 d130391dsc13ga.htm AMENDMENT NO. 1 TO SCHEDULE 13G Amendment No. 1 to Schedule 13G

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

(Amendment No. 1)*

Under the Securities Exchange Act of 1934

 

 

Catalyst Paper Corp.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

14889B102

(CUSIP Number)

December 31, 2015

(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 14 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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IA

    Page 3 of 14 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

 

    Delaware, USA

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 14 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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IN, HC

    Page 5 of 14 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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IN, HC

 

    Page 6 of 14 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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IN, HC

 

    Page 7 of 14 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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IN, HC

    Page 8 of 14 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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IN, HC

 

    Page 9 of 14 Pages

 

  1   

Names of Reporting Persons

 

    Michael Thoyer

  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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IN, HC

 

    Page 10 of 14 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)

 

    10.0%

12  

Type of Reporting Person (See Instructions)

 

    IN, HC

 

    Page 11 of 14 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) Thomas Varkey (“Varkey”)
  (vi) Jonathan Sacks (“Sacks”)
  (vii) Peter Sisitsky (“Sisitsky”)
  (viii) Michael Thoyer (“Thoyer”)
  (ix) 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
  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.

 

ITEM 4. OWNERSHIP:

The information in items 1 and 5 through 11 on the cover pages (pp. 2 -10) on this Schedule 13G is hereby incorporated by reference.

    Page 12 of 14 Pages

 

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 13 of 14 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: February 9, 2016

 

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
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 14 of 14 Pages

 

EXHIBIT 1

AGREEMENT OF JOINT FILING

Stonehill Capital Management LLC, Stonehill Institutional Partners, L.P., John Motulsky, Christopher Wilson, 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: February 9, 2016

 

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
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