AbitibiBowater Reorg Plan Sanctioned by Quebec Court
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The Quebec Superior Court, Montreal, Que., Canada, has rendered an order sanctioning AbitibiBowater's reorganization plan under the Canadian Companies' Creditors Arrangement Act (CCAA). AbitibiBowater, which produces newsprint, commercial printing and packaging papers, market pulp and wood products, previously received reorganization plan approvals from affected creditors under the CCAA in Canada and Chapter 11 of the U.S. Bankruptcy Code in the United States.
The Quebec Superior Court's sanction order on the CCAA reorganization plan can be viewed online. The Chapter 11 confirmation hearing got under way last week in U.S. Bankruptcy Court.
AbitibiBowater expects to emerge from creditor protection this fall.
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