Adviser Asks To Pursue $88M Suit V. AbitibiBowater

Law360, New York (May 15, 2009, 12:00 AM EDT) -- The Levin Group LP, a mergers and acquisitions advisory firm, has moved to lift the automatic stay in AbitibiBowater Inc.'s bankruptcy proceedings to pursue a claim in state court for $88 million in consulting fees it says the newsprint producer owes.

Levin filed a motion in the U.S. Bankruptcy Court for the District of Delaware on Thursday, claiming a modification of the stay is the “most expeditious and cost-effective means of resolving this dispute.”

AbitibiBowater would have to divert “very few” resources from restructuring to litigating...
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