Quebecor World Receives Extension to Canadian Bankruptcy Filing
Will now appear in U.S. court to determine Chapter 11 status.
Quebecor World has received an extension–through May 12, 2008–to its temporary filing of bankruptcy under Canada’s Companies’ Creditors Arrangement Act (CCAA) from the Superior Court of Quebec this week, which was scheduled to expire on February 20. According to the Canadian Press, the company will appear in U.S. Bankruptcy Court today to seek an extension to its Chapter 11 filing.
This First Stay Extension Order through the Superior Court of Quebec relieves the company of having to hold its annual shareholders’ meeting before June 30, 2008 and allows Quebecor World to hold the meeting within three months following the ultimate termination date on May 12.