Вы находитесь на странице: 1из 4

THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re: Chapter 11

ABITIBIBOWATER, INC., et al1 Case No.: 09-11296 (KJC)


(Jointly Administered)
Debtors.

JOINDER OF CERTAIN EQUITY SHAREHOLDERS OBJECTION (Docket


#3224) TO THE DEBTORS’ PLAN OF REORGANIZATION

I, XXXXXXXXX (insert your name here) residing at XXXXXX (insert your address

here), am a shareholder of the above-captioned debtors and debtors-in-possession

(collectively, the "Debtors") and hereby submit this Joinder to the Objection to the Debtors’

Plan of Reorganization. In support of this joinder, I represent as follows:

JURISDICTION AND VENUE

1. This Court has jurisdiction over this matter pursuant to 28 U.S.C. §§ 157 and

1334. Venue is proper in this Court pursuant to 28 U.S.C. §§ 1408 and 1409. This matter

constitutes a "core proceeding" within the meaning of 28 U.S.C. § 157(b)(2)(A).

The Debtors in these chapter 11 cases are AbitiBowater, Inc.; AbitiBowater US Holding 1 Corp.;

AbitiBowater US Holding LLC; AbitiBowater Canada, Inc.; Abitibi-Consolidated Alabama Corp.; AbitibiConsolidated

Corp.; Abitibi-Consolidated Finance LP; Abitibi-Consolidated Sales Corp.; Alabama River Newsprint Co.; August

Woodlands, LLC; Bowater Alabama LLC; Bowater America, Inc.; Bowater Canada Finance Corp.; Bowater Canadian

Forest Products, Inc.; Bowater Canadian Holdings Inc.; Bowater Canadian Ltd.; Bowater Finance Company, Inc.;

Bowater Finance II LLC; Bowater, Inc.; Bowater LaHave Corp.; Bowater Maritimes, Inc.; Bowater Newsprint South

LLC; Bowater Newsprint South Operations LLC; Bowater Nuway, Inc.; Bowater Nuway MidSates, Inc.; Bowater

South American Holdings, Inc.; Bowater Ventures, Inc.; Catawba Property Holdings LLC; Coosa Pines Golf Club

Holdings LLC; Donohue Corp.; Lake Superior Forest Products, Inc.; and Tenex Data, Inc

.
BACKGROUND

2. On April 16, 2009 (the “Petition Date”), the Debtors filed voluntary petitions

for relief under Chapter 11 of the Bankruptcy Code. The Debtors operate and maintain their

businesses as debtors-in-possession pursuant to sections 1107(a) and 1108 of the Bankruptcy

Code. Pursuant to Debtors’ voluntary petitions filed with this Court, the company listed

assets valued at $9.94 billion against liabilities of $8.78 billion.

3. On April 17, 2009, certain of the Debtors (the “Canadian Debtors”), along

with non-debtor subsidiaries, sought protection from creditors under Canada’s Companies’

Creditors Arrangement Act, R.S.C. 1985, c. C-36 (the “CCAA”), in the Superior Court,

Commercial Division, for the Judicial District of Montreal, Canada (the “Canadian

Proceeding” and the “Canadian Court,” respectively).

4. On April 28, 2009, the United States Trustee for the District of Delaware (the

“U.S. Trustee”) appointed a statutory committee of unsecured creditors (the “Committee”),

pursuant to 11 U.S.C. sec. 1102 of the Bankruptcy Code.

5. On April 14, 2010, the Debtors filed their Third Motion for Order Extending

Their Exclusive Periods to File a Chapter 11 Plan and Solicit Acceptances (the “Third

Exclusivity Motion”). Pursuant to this Court’s order dated May 12, 2010 granting the Third

Exclusivity Motion (the “Order”), Debtors’ exclusivity for filing a plan of reorganization was

extended through and including July 21, 2010. Further, the Order extended exclusivity for

solicitation of acceptance of a plan through and including September 9, 2010.

6. On May 24, 2010, Debtors filed their First Amended Joint Plan of

Reorganization (the “Plan”) and Disclosure Statement for First Amended Plan (the

“Disclosure Statement”) [D.I. 2199 and 2200]. On June 29, 2010, Aurelius Capital

.
Management, LP (“Aurelius”) filed an Objection to Disclosure Statement (the “Aurelius

Objection”) [D.I. 2526].

7. The Shareholders filed a Joinder (the “Joinder”) [D.I. 2558] to the Aurelius

Objection as the Shareholders share many of the concerns raised by Aurelius. For example,

Aurelius objects to the Debtors’ Disclosure Statement as it lacks a liquidation analysis for

each Debtor, nor does it include a valuation of the reorganized Debtors. See Objection, at *3.

Aurelius also objects to the Disclosure Statement’s lack of explanation of how certain

intercompany claims are being treated under Debtors’ proposed plan. Id.

8. Contained in Docket # 2796, AbitibiBowater Inc. (the “Company”), together

with its subsidiaries, affiliated debtors and debtors-in-possession (collectively the “Debtors”

and individually as an “Individual Debtor” or “Individual Debtors”) proposed a second

amended joint plan of reorganization (the “Plan”) for acceptance by the court and all

creditors entitled to vote on the Plan. The Plan is to be considered with reference to the

Disclosure Statement with exhibits thereto.

9. On September 13, 2010, certain equity shareholders filed an objection to the

Debtors’ Plan of Reorganization (Docket #3224).

JOINDER

10. I hereby join in the objection (Docket #3224) to the Debtor’s Plan of

Reorganization on the following bases: (1) Debtors have undervalued or failed to value

multiple assets; (2) Debtors are withholding recoveries until after Plan confirmation; (3)

Debtors’ subsidiaries have not been properly valued; and (4) Debtors’ put forward Plan

without concern for fundamental fairness.

.
11. I reserve all rights to assert additional objections prior to or at the time of the

hearing on the Motion.

DATED:

Print name here and sign it