Thursday, October 21, 2010

AbitibiBowater Reorganization Plan in Court


AbitibiBowater's quest to restructure is winding down, with a U.S. Bankruptcy Court set to hear oral arguments on the newsprint giant's reorganization plan on November 5.

The hearing will take place about six weeks after opponents began to mount an effort in court to challenge the plan of reorganization.

Among the concerns is a six-million dollar bonus plan for company executives.