AbitibiBowater's US Reorganization Plan OK'd

Law360, New York (November 23, 2010, 4:22 PM EST) -- A bankruptcy judge has approved AbitibiBowater Inc.’s Chapter 11 plan of reorganization, setting the stage for the newsprint giant to emerge from creditor protection in the U.S. and Canada in December and dump an estimated $7.2 billion in debt.

 

Judge Kevin J. Carey signed off on the plan and overruled lingering objections in an opinion filed Monday in the U.S. Bankruptcy Court for the District of Delaware.

 

The most pivotal of the objections — lodged by several bondholders, including Aurelius Capital Management LP and...
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