The Pacific Lumber Company Statement on Posting Bond in THP 520 Litigation.Business Editors SCOTIA, Calif.--(BUSINESS WIRE)--July 20, 2000 With Wednesday's posting of a bond by the Sierra Club Sierra Club, national organization in the United States dedicated to the preservation and expansion of the world's parks, wildlife, and wilderness areas. Founded (1892) in California by a group led by the Scottish-American conservationist John Muir, the Sierra Club and EPIC, a preliminary injunction A temporary order made by a court at the request of one party that prevents the other party from pursuing a particular course of conduct until the conclusion of a trial on the merits. A preliminary injunction is regarded as extraordinary relief. will remain in place preventing The Pacific Lumber Company The Pacific Lumber Company or PALCO, owned by Maxxam Inc, is a logging company from northwestern California, USA. While their main function is still logging, they have expanded operations to include custom milling and treating. from harvesting timber in the Elk River area under an amendment to Timber Harvest Plan (THP) 520. Pacific Lumber has asked the court for an expedited trial schedule to resolve this matter based on the merits on the merits adj. referring to a judgment, decision or ruling of a court based upon the facts presented in evidence and the law applied to that evidence. A judge decides a case "on the merits" when he/she bases the decision on the fundamental issues and considers of the case. The following facts must be considered: -- Timber Harvest Plan 520 and the land on which it is located were part of the Headwaters Agreement. This land was transferred to Pacific Lumber with the understanding that this area would be harvested. -- This area was never intended to be part of the Headwaters Reserve. It was discussed and rejected prior to the signing of the Headwaters Agreement. U.S. Senator Dianne Feinstein's chief of staff Mike McGill said, "There wasn't enough money to buy everything. None of the scientists said this hole was so unique and valuable that it had to be preserved forever." -- The Sierra Club and EPIC are calling for the government purchase of this area and even more land from Pacific Lumber. We interpret this effort as an attempt to rewrite the Headwaters Agreement. -- We promised the court that we would take no action until it had resolved this issue and we have kept that pledge. -- This delay has placed an economic hardship on the Company, including layoffs, and further delays will continue to do so. "The Pacific Lumber Company will continue to work through the legal system to resolve this matter," said PALCO PALCO Pacific Lumber Company President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John Campbell. "We remain confident that the Company's actions and those of the state will be affirmed." |
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