AbitibiBowater could be on the verge of exiting bankruptcy protection. The company has been given the green light by an American court to go ahead with a restructuring plan that will shed 5 and a half billion dollars in unsecured debt. Part of the deal ensures the company will meet all pension obligations in Canada.
Wednesday, November 24, 2010
AbitibiBowater clears major hurdle
AbitibiBowater could be on the verge of exiting bankruptcy protection. The company has been given the green light by an American court to go ahead with a restructuring plan that will shed 5 and a half billion dollars in unsecured debt. Part of the deal ensures the company will meet all pension obligations in Canada.
