AbitibiBowater Looks for Extension

AbitibiBowater is asking a bankruptcy court in Delaware for more time to present a reorganization plan for the company.

The newsprint giant is seeking a 120-day extension of the so-called exclusivity period which would protect it from creditors’ submitting plans to reorganize the company.

In court papers filed last week, the company says the initial exclusive periods provide an unrealistic time frame to file” a viable recovery plan due to “the sheer size and complexity” of the case.

A hearing has been set for August.