AbitibiBowater Still Awaiting Restructuring OK After Court Hearing Adjourns

Insolvent newsprint giant AbitibiBowater's restructuring plan still awaits U.S. Bankruptcy Court approval after Thursday's hearing was adjourned until next week. A telephone hearing with lawyers for the Montreal-based company and a number of creditors is scheduled to resume Tuesday. AbitibiBowater spokesman Seth Kursman said it's unknown when the judge will finally rule on the plan.

"We continue to make progress and still anticipate emerging this fall a stronger, more sustainable company," Kursman said in an email.

Creditor Aurelius Capital Management told the court that some of its objections to a revised plan have been resolved. Court approval