Quebecor World granted bridge exclusivity extension as negotiations continue

By Jennifer Lanning Drey

Portland, Ore., Jan. 22 - Quebecor World (USA) Inc. obtained a bridge extension to its exclusive periods, which will allow the company to continue discussions with its creditors committee, ad hoc committee of noteholders and pre-bankruptcy lenders regarding the formulation of a consensual plan of reorganization, according to a source familiar with the company's bankruptcy case.

The company's exclusive plan-filing period was extended to March 9 from Jan. 31 and the solicitation period to May 8 from March 31 by the U.S. Bankruptcy Court for the Southern District of New York on Thursday.

The company has asked the court to extend the exclusive plan-filing period to May 31 and the solicitation period to July 31, 2009. However, the hearing on that motion has been adjourned indefinitely as negotiations continue.

The hearing was originally scheduled for Jan. 22.

Quebecor World, a Montreal-based printing and marketing company, filed for Chapter 11 bankruptcy on Jan. 21, 2008 and filed for protection under the Companies' Creditors Arrangement Act in Canada. Its Chapter 11 case number is 08-10152.

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