Quebecor World seeks four-month exclusivity extension

By Caroline Salls

Pittsburgh, Jan. 13 - Quebecor World (USA) Inc. is seeking an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company is looking to extend the exclusive plan-filing period to May 31 from Jan. 31 and the solicitation period to July 31, 2009 from March 31.

Quebecor World said it has determined that, in light of the size of its bankruptcy case, it needs to address the operational issues associated with the company's businesses and the challenges arising from the cross-border nature of their financial affairs.

As a result, the company said it will need more time to formulate and confirm a plan of reorganization.

A hearing is 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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