Quebecor World reorg OK’d, to emerge as Novink

Judge James Peck of the U.S. Bankruptcy Court in the Southern District of New York and Judge Robert Mongeon of the Quebec Superior Court in Montreal, in a joint hearing, have approved Quebecor World Inc.’s (Montreal) reorganization plan. Yesterday’s court approval proceedings were delayed when some of the creditors objected due to a lack of consensus on some of the terms and conditions. On June 25, The U.S. government asked the court to deny Quebecor World’s restructuring plan because of unpaid Clean Air Act penalties and taxes. The judges reportedly considered objections from other interested parties, including the ...

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