– merging all the company's Canadian assets into a single company that will operate as a subsidiary of Smurfit Stone; – cancelling all existing equity securities; shareholders of existing stock would recieve no recompense for their investment; – repaying creditors owed less than $10,000 in cash; – repaying creditors owed more than $10,000 by issuing them with shares in the newly reorganised company, which will be traded either on the New York Stock Exchange or NASDAQ – Patrick Moore will continue as chief executive of the newly-reorganised business.