MONTREAL — AbitibiBowater has received approval for a process to call for creditor claims by the Quebec Superior Court in Canada and the U.S. Bankruptcy Court for the District of Delaware.
MONTREAL — AbitibiBowater has received approval for a process to call for creditor claims by the Quebec Superior Court in Canada and the U.S. Bankruptcy Court for the District of Delaware.
The claims process outlines the procedures by which creditors can make claims against the company. These proposed procedures can be found on abitibibowater.com.
“Launching the claims process at this juncture demonstrates continued progress in AbitibiBowater’s restructuring efforts,” states David J. Paterson, president and CEO. “This key step in our creditor protection filings will allow the company to better assess the scope and nature of creditor claims and assist AbitibiBowater in formulating a restructuring plan.”
Under the claims process, creditor claims must be received by 4:00 p.m. (Eastern) on November 13, 2009. Creditor claims not received by this bar date will be extinguished, and the creditors asserting such claims will not be entitled to participate in any forthcoming restructuring plan.
Certain creditors are not required to file claims in the claims process including, among other creditors, active employees or employees that were active at the date of AbitibiBowater’s creditor protection filing on April 16, 2009.
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