AbitibiBowater Files Framework for Plan of Reorganization
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"The filing of these documents is an important step in AbitibiBowater's creditor protection proceedings and a precursor to a key milestone we intend to reach in the near future with the filing of the plan's disclosure documents and proxy materials," stated David J. Paterson, President and CEO. "While we recognize the consequences this Plan outlines for our current common stockholders, this result was necessary in order to meet our overall obligations to creditors and effectively restructure for the future."
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