We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

AbitibiBowater Gets Access To $206M In DIP Cash

Law360 (April 20, 2009, 12:00 AM EDT) -- A federal bankruptcy judge presiding over the restructuring of AbitibiBowater Inc., North America's largest newsprint producer, has approved $206 million in debtor-in-possession financing from investment firm Fairfax Financial Holdings Ltd. and hedge fund Avenue Investments LP.

Judge Kevin J. Carey in the U.S. Bankruptcy Court for the District of Delaware issued an interim order on Friday granting the newsprint company's 13 first-day motions, including the request for the DIP agreement.

Judge Carey allowed for up to $600 million in post-petition financing from Fairfax, subject to a...
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.