Az - The Terrace Standard, Wednesday, November 12, 1997 Skeena Cellulose shares for debt plan not greeted with enthusiasm THE PROBABILITY of a shares-for-debt deal more inlerested in getting some percentage of giving a promise that there will be moncy down for unsecured creditors of Skeena Cellulose is cash up front than shares of questionable value — the road and nobody can guarantee that,’’ Hyatt waning, according to the company’s court- of marketability. said. appointed monitors, He noted earlier suggestions were that five per Without either cash or shares on the table, he Martin Hyatt, of Coopers and Lybrand, said cent of the companies shares would be offered said, there’s nothing the creditors would be ii Paradise Spa & | . . : ’ . ia be iegy meds rsinctrig ofo totbaccdtes. | Iain vot aay, [LUXUTY Gazebo Ratfie| | tractors and suppliers won’t include some of the owns 45 per cent of the company — wants fo still vote yes to a bad deal to ensure the fulure Skeena Cellulose shares now held by the pro- keep its full 20 per cent after gradually transfer- business that would come to them if the compa- D raw Date: Dec 20 at 2 p m s a iJ a “The government doesn’t seem to be keen on © That offer to unsecured creditors has to be Employment and investment ministry spokes- Tickets can be purchased at Twilight Spa & WWW.terraceautomall.com. Terrace 747 Air Cadets giving it and the creditors don’t appear to be complete by Nov. 28. They would have to vote man Don Zadravec would not say whether the on the deal and approve it by a majority of the cteditors holding 75 per cent of the unpaid debt. If the province doesn’t offer shares and province will honour its commitment in Sep- tember to put some of its shares on the table. He said the issue of what kind of package of that keen on receiving it,’’ Hyatt said of a pack- age of shares, ‘Cash may in the end talk louder than shares.” eee Hyatt says creditors he’s talked to are much STOP Press. Riverside Park top » pick ‘ for skateboard park RIVERSIDE PARK should be the location of a future skateboard park, says city parks superintendent Steve Scott. In a report that went to city council Monday night, Scott assesses six possible sites for the 10,000 square foot concrete skateboard park. (See Page A& for story on earlier council debate over skateboard park.) Scott says Riverside Park comes out on top because there are no nearby homes, it’s relatively close to down- town, doesn't interfere with city operations, any graffiti there wouldn’t be seen by the general population, and there would be room for further expansion. The skateboard park will likely be the target of graffiti, Scott says, adding that’s a reason to locate it somewhere that other buildings aren't likely to be targetted. “Noise from skateboards and portable stereos may also be considered a nuisance in certain locations or at particular times of the day,” he added. Scott eliminated the originaliy proposed site of vacant land behind city hall because it would reduce available parking and may compromise the fire hall’s ability to expand in the future. The northwest corner of Lower Little Park is close ta downtown, Scott said, but graffiti there would be a very visible eyesore and public opposition would result over the loss of green space in the park. The Farmer’s Market Iocation, a site on Haugland Ave, and Upper Little Park adjacent to the Women’s Centre were all considered and rejected. Drug case tossed out . JUSTICE DEPARTMENT officials are contemplating an appeal of a drug trafficking case thrown oul of court here last week. Rene Fagan had been charged March 12, 1995 with pos- session of 4.5 ounces of cocaine for the purpose of trafficking. But Supreme Court Justice J.T. Edwards threw out the case last Wednesday on a defence motion that toa much lime had elapsed, violating Fagan’s constitutional rights to a trial within a reasonable periad of time. “We're not too happy about it,” said federal prosecutor Andy Roth. “But at this point we've gat to regroup, take a look at the transcripts and decide what to do next.” Roth is recommending an appeal, but says the final deci- sion is up to a Justice Department appeals committee in Vancouver. + He said the seizure that led to charges against Fagan was “fairly large”. Roth said there wasn’t one factor to blame for the delays (hat prompted the case to be quashed. “The system itself caused it to be there that length of time,” he said, Watch where you park WITH the white stuff expected any time now, it’s time for drivers parking vehicles on streets to make sure they're out of the way of snow clearing machinery, From Nov. 1 to April 1 the city prohibits parking on streets and highways in town. Vehicles parked illegally can’ and will be towed. ~- PLEASE POST First Nations Education Centre SCHOOL DISTRICT 4z (COAST MOUNTAINS) | 4 presents : STORYTELLING i Wednesdays ee 14) 1997 o".” 3qg0Sparks'Strect ...) Terrace, BC VeG 2V3 °° Storytellers . Isabelle McKee Bernadette McLean Mae Derrick Carollme Daniels Lorna Johnson Marvin Stare Keanne Talt : Charies Swanton Elmer Moody Shari Burrows plus many more oe me we eee doesn’t offer cash up front, “‘then you’re just FROM FRONT Casino backer says councillors’ judgment clouded pose bingo, horse racing, Keno, Lotto 649 and church raffles. “Tf the council wants to protect the charitable orga- nizations around Terrace, now is the time to put aside moral issues and values and look at what’s best for the community — economically and socially,’ Hilford said. “Their own personal values are clouding the issue and not allowing them to act in an intelligent, rational manuer.”’ If council does say yes, then Georgilas and Jackson — and anyone else who wants to — have until Nov. 28 to apply for a licence. The province makes a deci- sion after that in consulta- tion with the municipality. Much of the battle, Jack- son says, is overcoming Hollywood stereotypes of casinos run by gangsters packing guas and wads of cash. The reality is quite dif- ferent, he says. ‘Youve got te be squeaky’ cJean in this busi- ness,’’? he said. ‘‘Because you’ve got everything to lose and nothing to gain if you aren't,” Heavy security within his operation and complex regulations and auditing ensure that, he noted. Slot machines, he added, are tightly regulated and owned by the B.C, Lotteries Corporation, paying back 90 to 92 per cent of the money put into them. He said lotteries officials electronically monitor and control the slot machines, and can shut one off at the flick of a switch from their headquarters in Kamloops. Jackson says the north- west corridor area is the only untapped casino market in the province that he has identified. “Terrace has succeeded in growing and becoming a hub,” be said, explaining why he chose this city for a casino over Prince Rupert and Smithers. Jackson says the profile of a casino gambler tends to be an affluent person with dis- posable income, usually young and male, educated and employed. Jackson rejects the angu- ment that the casino will likely just take moncy from the existing operation of the Lucky Dollar Bingo Palace, He said there is usually litle crossover between bingo players and casino players, Bingo players sometimes ty out slot machines, he said, but they eventually go back to bingo, “Tm saying you're going to bring in new dollars,” Jackson said the casino will draw people from a wide area across the north- west, boosting other shops and businesses i in the city as well, “It will be a reason for them to stay ovemight and to spend more money in the community,’’ Jackson said. Opponents of the charity casino didn’t get a chance to take on the idca at last week’s meeting, but they should have an opportunity to present their views to council this Friday. That meeting of council’s committee of the whole gets underway at noon Friday in council chambers. Among those who sat in last week were ministers from the Christian Reformed Church, the Cath- olic Church’s Sacred Heart Parish, the Salvation Army, and representatives of the Terrace Anti Poverty Society. September 24, 1997. GRIER: || STOPPERS Terrace Crime Stoppers are asking for your assistance in solving a senseless crime that hap- pened in broad daylight on the afternoon of At approximately 3:30 pm on Wednesday, offer unsecured creditors is so far unresolved. Pump Supply or from any Air Cadet Member. Prize Value $10,830 (BEAT THE opps \ LUNG DISEASE Arm yourself with +1] the latest lung . facts from aa the B.C. Lung Association, BRITISH COLUMBIA LUNG ASSOCIATION "Vox 34009, Siarian 1 Vancouver, B.C. ¥6J 4M2 fAderiiane epuce denested bo thay pe bte ctv For More Information . Call Charles at 635-3763 Look Deep Into The Eyes Of hWPNOYVIST . LEIGH STERLING if you dare! 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