FAQs
On April 16, 2009, AbitibiBowater Inc. and certain of its affiliates (collectively, the "Debtors"), filed voluntary petitions (the "AbitibiBowater Cases") for relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (as amended, the "Bankruptcy Code").
The questions and answers that follow provide general information concerning the AbitibiBowater Cases, the Official Committee of Unsecured Creditors of AbitibiBowater, et al. (the "Committee"), and various topics related to the AbitibiBowater Cases and the Committee.
What is the Committee?
Pursuant to the Bankruptcy Code, the United States Trustee is authorized to appoint a committee of creditors holding unsecured claims as soon as practicable after the filing of a case. Generally, a creditors' committee is a group (typically seven) of general unsecured creditors appointed to represent, in a fiduciary capacity, the interests of all general unsecured creditors. In such role, creditors' committees act to protect and promote the interests of general unsecured creditors by, among other things, monitoring a debtor's business operations, investigating its business and financial affairs, and negotiating the terms of a plan of reorganization (a "Plan"). The overarching goal of a creditors' committee is to maximize value for general unsecured creditors.
In accordance with this authority, on April 28, 2009, the United States Trustee appointed the Committee.
What is the Committee's role in the AbitibiBowater Cases?
Pursuant to the Bankruptcy Code, the Committee may: (1) consult with the trustee or debtor in possession concerning the administration of the AbitibiBowater Cases; (2) investigate the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of the Debtors' businesses and the desirability of the continuance of such businesses, and any other matter relevant to the AbitibiBowater Cases or to the formulation of a Plan; (3) participate in the formulation of a Plan, advise those represented by the Committee of the Committee's determinations as to any Plan formulated, and collect and file with the court acceptances or rejections of a Plan; (4) request the appointment of a trustee or examiner under section 1104 of the Bankruptcy Code; and (5) perform such other services as are in the interests of the unsecured creditors.
Who are the members of the Committee?
Andritz Inc.
Computershare Trust Company of Canada, as Indenture Trustee for Certain Notes
HSBC Bank USA, N.A., as Indenture Trustee for Certain Notes
Imerys Clays, Inc.
Pension Benefit Guaranty Corporation
United Steel, Paper and Forestry, Rubber Manufacturing, Energy, Allied Industrial and Service Workers International Union
Wilmington Trust Company, as Indenture Trustee for Certain Notes
Who represents the Committee?
The Committee retained Paul, Hastings, Janofsky & Walker LLP to act as its counsel and Bayard, P.A. as its co-counsel.
Which AbitibiBowater entities are in bankruptcy?
Click here to see a list of AbitibiBowater entities in bankruptcy.
Who is the United States Trustee?
The Assistant United States Trustee for the AbitibiBowater Cases is William K. Harrington.
What role does the United States Trustee Play?
The United States Trustee Program is a component of the Department of Justice responsible for overseeing the administration of bankruptcy cases. For further details on the United States Trustee's role, please visit: www.usdoj.gov/ust/r03/index.htm.
Does the Committee represent individual creditors?
No. The Committee represents the interests of all unsecured creditors through oversight of and negotiations with the Debtors. Neither the Committee nor its counsel represent individual creditors that may have claims in the AbitibiBowater Cases.
What is the deadline for filing proofs of claims?
The deadline for filing proofs of claim is November 13, 2009 at 4:00 p.m. (prevailing Eastern Time). For information on filing a Proof of Claim, please click on the Information on Filing Proofs of Claim button on the left side of the page.
Do I need to file a proof of claim?
If you believe that you or an entity you represent has a claim arising prior to April 16, 2009 against one or more of the Debtors, you may wish to file a proof of claim to protect your rights. You should consult your own counsel in deciding to file a claim in the AbitibiBowater Cases. For additional information regarding proofs of claim, please refer to: http://chapter11.epiqsystems.com.
Have the Debtors filed any chapter 11 plan(s) or disclosure statement(s)?
On May 4, 2010 the Debtors' filed a Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code. The Debtors' Amended Joint Plan of Reorganization, and their Amended Disclosure Statement, was filed with the Bankruptcy Court on May 24, 2010. To view these documents, please click on the Plan of Reorganization and Disclosure Statement link on the left side of the page.
How long will the AbitibiBowater Cases last?
There is no specific time estimate for the AbitibiBowater Cases. Large bankruptcy cases such as these can take several months (and in some cases years) to complete.
How do I get responses to specific questions?
Please call 1-888-262-1560 or email your questions to: AbitibiBowaterCommittee@gardencitygroup.com .
Who is the judge presiding over the AbitibiBowater Cases?
The AbitibiBowater Cases are assigned to the Honorable Kevin J. Carey, United States Bankruptcy Judge for the District of Delaware.
For additional frequently asked questions regarding the Debtors, please visit the AbitibiBowater website: http://abitibibowater.com.