Attached files

file filename
EX-99.1 - SIXTY-THIRD REPORT OF THE MONITOR, DATED OCTOBER 1, 2010 - Resolute Forest Products Inc.dex991.htm
EX-99.2 - MONTHLY OPERATING REPORT FOR PERIOD AUG. 1 TO AUG. 31, 2010, DATED SEPT. 30,2010 - Resolute Forest Products Inc.dex992.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 1, 2010

ABITIBIBOWATER INC.

(Exact name of Registrant as Specified in Charter)

 

Delaware   001-33776   98-0526415

(State or other Jurisdiction of

Incorporation or Organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

 

AbitibiBowater Inc.

1155 Metcalfe Street, Suite 800

Montréal, Québec, Canada

  H3B 5H2
(Address of principal executive offices)   (Zip Code)

(514) 875-2160

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


ITEM 8.01. OTHER EVENTS.

Monitor’s Report

On October 1, 2010, Ernst & Young Inc. (“E&Y”), as Monitor, filed its sixty-third report (the “Monitor’s Report”) with the Canadian Court in connection with the creditor protection proceedings previously instituted by certain wholly-owned subsidiaries of the AbitibiBowater Inc. (the “Company”), namely Abitibi-Consolidated Inc. and certain of its subsidiaries, and Bowater Canadian Holdings Incorporated and certain of its subsidiaries (collectively, the “Canadian Petitioners”), under the Companies’ Creditors Arrangement Act (Canada). The purpose of the Monitor’s Report is to report to the Canadian Court with respect to the five week cash flow results of the Canadian Petitioners for the period from August 2, 2010 to September 5, 2010 and to provide details on: (i) an update regarding the overview of the current market conditions in the forest products industry provided in the fifty-third report of the Monitor, dated August 26, 2010, (ii) the receipts and disbursements of Abitibi-Consolidated Inc. and its subsidiaries and Bowater Canadian Forest Products Inc. for the reporting period, with a discussion of the variances from the respective forecasts set forth in the fifty-third report of the Monitor, (iii) the current liquidity and revised cash flow forecasts of Abitibi-Consolidated Inc. and its subsidiaries and Bowater Canadian Forest Products Inc. for the 13-week period ended December 5, 2010 and (iv) an update with respect to certain key performance indicators tracked by the Canadian Petitioners. A copy of the Monitor’s Report is attached as Exhibit 99.1 and is incorporated herein by reference.

The Monitor’s Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of the Canadian Petitioners’ compliance with the monthly reporting requirements of the Canadian Court. The financial information in the Monitor’s Report has not been audited, reviewed or otherwise verified for accuracy or completeness by E&Y. Some of the information referred to in the Monitor’s Report consists of forecasts and projections.

Readers are cautioned that, since these projections are based upon assumptions about future events and conditions, the actual results will vary from the projections, even if the assumptions materialize, and the variations could be significant. The Monitor’s Report is in a format required by the Canadian Court and should not be used for investment purposes.

Monthly Operating Report

On October 1, 2010, Company and certain of its U.S. subsidiaries (collectively, the “U.S. Debtors”) filed the Monthly Operating Report for the period from August 1, 2010 to August 31, 2010 (the “MOR”) with the U.S. Bankruptcy Court (In re: AbitibiBowater Inc., et al., Chapter 11, Case No. 09-11296) (the “U.S. Bankruptcy Court”). A copy of the MOR is attached as Exhibit 99.2 to this report and is incorporated herein by reference.

The MOR is limited in scope, covers a limited time period, and has been prepared solely for the purpose of the U.S. Debtors’ compliance with the monthly reporting requirements of the U.S. Bankruptcy Court. The financial information in the MOR has not been

 

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audited, reviewed or otherwise verified for accuracy or completeness by independent accountants. The financial statements in the MOR are not intended to be prepared in conformity with U.S. GAAP because they do not include all of the information and footnote disclosures required by U.S. GAAP for complete financial statements, and the information contained in the MOR is not intended to reconcile to the consolidated financial statements of the Company in its Annual Report on Form 10-K for the fiscal year ended December 31, 2009 filed with the Securities and Exchange Commission on March 31, 2010, as amended, nor any consolidated financial statements in subsequently filed Quarterly Reports on Form 10-Q. The statement of operations and cash flows presented in the MOR for any interim period are not necessarily indicative of the results that may be expected for a full quarter, full year, or any interim period. Readers are cautioned not to place undue reliance on the MOR. The MOR is in a format required by the U.S. Bankruptcy Court and should not be used for investment purposes.

 

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

 

Exhibit

No.

  

Description

99.1    Sixty-Third Report of the Monitor, dated October 1, 2010
99.2    Monthly Operating Report for the Period August 1, 2010 to August 31, 2010, dated September 30, 2010

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

        ABITIBIBOWATER INC.
Date: October 7, 2010     By:   /S/    JACQUES P. VACHON      
    Name:   Jacques P. Vachon
    Title:   Senior Vice President, Corporate Affairs and Chief Legal Officer

 

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INDEX OF EXHIBITS

 

Exhibit
No.

  

Description

99.1    Sixty-Third Report of the Monitor, dated October 1, 2010
99.2    Monthly Operating Report for the Period August 1, 2010 to August 31, 2010, dated September 30, 2010

 

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