Scotia Pacific timber notes trustee's plan confirmation stay request denied

By Caroline Salls

Pittsburgh, July 16 - Scotia Pacific Co., LLC's timber notes trustee's motion for a stay of the order confirming the plan of reorganization for Scotia Pacific and the other Pacific Lumber Co. debtors was denied Tuesday by the U.S. Bankruptcy Court for the Southern District of Texas.

However, judge Richard S. Schmidt did stay the "finality of the confirmation order" until July 25 to allow the notes trustee to take its case to the Fifth Circuit Court of Appeals.

In his ruling, Schmidt said the trustee would most likely not be successful in its appeal of the plan confirmation ruling because the appeal issues were already raised and carefully considered by the court at the plan confirmation hearing.

Pacific Lumber is a Scotia, Calif.-based producer of redwood lumber and an indirect wholly owned subsidiary of Maxxam. It filed for bankruptcy on Jan. 18, 2007, and its Chapter 11 case number is 07-20027.

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