Canadian Court OKs AbitibiBowater Plan

Law360, New York (September 24, 2010, 6:40 PM EDT) -- A Canadian court approved AbitibiBowater Inc.’s reorganization plan Friday under the Canadian Companies' Creditors Arrangement Act, while the fight over the bankrupt newsprint company’s Chapter 11 plan in the U.S. heated up in a contested confirmation hearing.

The Quebec Superior Court, District of Montreal, gave its approval 10 days after the plan won approval from Canadian creditors, save for the creditors of Bowater Canadian Finance Corp., a subsidiary that has been excised from the plans in both countries and lies at the heart of bondholder objections...
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