Recent News / 30 October 2007

30 October 2007
McBRIDE FOREST INDUSTRIES LTD

The Court has approved the Proposal and authorized the trustee to pay the dividends to creditors as set out in the proposal.

The dividend to preferred creditors comprising payment to employees of unpaid vacation pay to a maximum of $2,000 has been approved by the Inspectors and the cheques will be mailed on October 31, 2007.

The dividend to unsecured creditors comprising payment in full of filed and agreed claims has also been approved by the Inspectors and these cheques will be mailed on November 1, 2007. For employees this cheque will comprise vacation pay in excess of $2,000 plus severance.