“Authorized, signed and delivered,” Palco deal all but done
July 29, 2008
A final penstroke has passed on the Pacific Lumber Co.’s timberlands to the Mendocino Redwood Co., marking the almost certain end of the Scotia timber giant’s bankruptcy and decades of strife.
An attorney for Palco subsidiary Scotia Pacific told the U.S. Bankruptcy Court in Corpus Christi, Texas that the transfer documents — that would clear the way for the formation of the Humboldt Redwood Co. — have been approved.
“The board has now authorized, signed and delivered the transfer documents,” Katherine Coleman told Judge Richard Schmidt in a brief hearing today.Posted in PALCO | Tagged HRC, MRC |