2009-05-11
07:27:11
A federal government agency has revealed it provided AbitibiBowater with some short-term funding - to help it with its internally restructuring and to avoid bankruptcy protection.
Export Development Canada says it undertook two separate transitions in March.
Eighteen million dollars was provided in the form of a loan to help with the company's restructuring process. E.D.C.also offered up to $100 million to help the forestry company improve its credit structure, which would have been utilized had it been successful in restructuring its operations outside of bankruptcy protection.
The funds were never required.
