AbitibiBowater Gets Final OK For $206M In DIP Cash

Law360, New York (June 5, 2009, 12:00 AM EDT) -- AbitibiBowater Inc. has won final approval of its bid for debtor-in-possession financing and access to cash collateral, in an order that accommodates an objection from Applied Industrial Technologies Inc. over inventory the industrial supplier consigned to the newspaper giant.

Judge Kevin J. Carey issued a final order on Thursday in the U.S. Bankruptcy Court for the District of Delaware substantially adopting AbitibiBowater's motion for $206 million in DIP funding from Fairfax Financial Holdings Inc. and Avenue Investments LP.

“The relief requested in this DIP motion, as...
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