AbitibiBowater Lodges $472M NAFTA Claim V. Canada

Law360, New York (February 25, 2010, 6:02 PM EST) -- Newsprint producer AbitibiBowater Inc. filed one of the largest free-trade claims ever made against Canada on Thursday, alleging that the country owes it roughly CA$500 million ($472 million) for assets one of the country's provinces expropriated in 2008.

The bankrupt newsprint maker lodged its notice of arbitration under the North American Free Trade Agreement, challenging a December 2008 bill passed by the government of the Newfoundland and Labrador province that AbitibiBowater claims arbitrarily and discriminatorily seized its assets and rights.

AbitibiBowater, which is incorporated in Delaware,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.