AbitibiBowater, Montreal, Que., Canada, this week reported that it has received approval for a process to call for employee and other specified creditor claims (the Second Claims Process) by the Quebec Superior Court in Canada and the U.S. Bankruptcy Court for the District of Delaware. This Second Claims Process follows an earlier call for specified creditor claims that was approved by the courts and announced on Sept. 4, 2009 (the First Claims Process).
The Second Claims Process outlines procedures by which specified creditors can make claims against the company. These specified creditors include, among others: certain creditors that were not subject to the First Claims Process, such as company employees who were active as at April 16, 2009, or thereafter; certain creditors who may have claims arising from the breach or repudiation of contracts arising after Aug. 31, 2009; and certain company lenders. A comprehensive listing of procedures and specified creditors has been included in the Thirty-Second Report of the Monitor a link to which can be found on the AbitibiBowater web site.
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