MONTREAL—Creditors have approved Quebecor World's U.S. and Canadian plans of reorganization, clearing another hurdle as the insolvent printer bids to exit bankruptcy protection next month. More than 86 percent of the 2,800 ballots cast by creditors green lighted the U.S. plan, while 96 percent of creditors gave an affirmative vote for the Canadian plan. A joint confirmation hearing on both plans is scheduled for June 30.
Quebecor World Inc. and its affiliated debtors and debtors-inpossession announced today the voting results for Quebecor World’s Third Amended Joint Plan of Reorganization (the “U.S. Plan”). Voting by classes of creditors entitled to vote on the Plan reflected broad-based support for the U.S. Plan, with all classes entitled to vote receiving the applicable affirmative vote as required under the U.S. Bankruptcy Code.