Monday, April 19, 2010

AbitibiBowater Plan


AbitibiBowater is seeking a three-month extension to file a reorganization plan to exist bankruptcy protection.

In court documents filed in the United States last week, the company says its operational restructuring is "substantially complete," but needs a little more time to develop a plan that has the backing of creditors both in the U-S and Canada.

A hearing is scheduled for May 26 in Delaware.