By Michael Bathon – Aug 2, 2010
AbitibiBowater Inc., the world’s biggest newsprint maker by capacity, won court approval of its restructuring plan outline, allowing the company to take votes on the proposal.
U.S. Bankruptcy Judge Kevin J. Carey granted the company permission to send its plan to creditors, over objections at a hearing today in Wilmington, Delaware. He found that the disclosure statement contains adequate information for creditors to make an informed decision on the plan.
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