Creditors OK AbitibiBowater Bankruptcy Plan In Canada

Law360, New York (September 14, 2010, 7:51 PM EDT) -- Creditors approved AbitibiBowater Inc.'s plan of reorganization in a Canadian court Tuesday, but it faces an uphill climb in proceedings in the U.S. after a judge suggested naming a trustee to help unravel a cross-border dispute between the newsprint company and a pair of hedge funds.

"We appreciate the support given by the significant majority of our creditors under the [Companies' Creditors Arrangement Act] process for our plan of reorganization," said David J. Paterson, AbitibiBowater president and CEO. "We are confident our restructuring efforts have created...
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