Business News
Quebecor World Announces Posting of Additional Documents Relating to its U.S and Canadian Plans of Reorganization
Thursday 11. June 2009 - Quebecor World Inc. announces that it has posted on the websites maintained by the U.S. claims agent and the Monitor in the Canadian creditor protection proceedings and has filed with the U.S. and Canadian courts term sheets containing material terms applicable to the various securities to be issued by Quebecor World upon implementation of its U.S. and Canadian Plans of Reorganization under Chapter 11 of the U.S. Bankruptcy Code and the Companies Creditors Arrangement Act, consisting of new Common Shares and Class A Preferred Shares, Series I and Series II Warrants and unsecured notes to be issued or guaranteed by Quebecor World.
The Company also posted on the Canadian Monitors website and filed with the Canadian Court a Second Amended and Restated Plan of Reorganization and Compromise. The balloting deadline for affected creditors to vote on the U.S. Plan is June 18, 2009, which is the same date on which affected creditors will be asked to vote on the Canadian Plan at a meeting of creditors.
Quebecor World has also posted and filed an updated disclosure exhibit providing information on the current status of the Companys views regarding the non-binding, unsolicited and conditional indication of interest for the acquisition of substantially all of its assets received from R.R. Donnelley, including the Companys views on R.R. Donnelleys latest indication of interest received June 8, 2009.
Quebecor World is proceeding on the timetable contemplated under its proposed reorganization plans so as to successfully emerge from both the U.S. and Canadian insolvency proceedings by mid-July 2009. In that connection, the Company is pleased to announce that it is well advanced in its exit financing process.