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Davies acted for Metso Paper Ltd., a significant creditor of Papiers Gaspésia LP and Papiers Gaspésia Inc., in the latter's restructuring under the Companies' Creditors Arrangement Act.  Davies successfully challenged the classification proposed by the debtors and obtained the creation of a new class of creditors.  As a result of this new classification and to further negotiations with the debtors, the dividend payable to Metso and the other members of its class was substantially enhanced.

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2005