Debtor’s Averment 18 Page (6)
In Newfoundland and Labrador, AbitibiBowater holds a broad range of rights that can be traced in part back to grants in various forms by the provincial government and its predecessors and agents (such as the January 12, 1905 Charter Lease), but also in part to other arm’s length agreements made with private third parties, for which valuable consideration was likewise given. These transactions provided AbitibiBowater with extensive land rights, timber rights, water use rights and various other related rights, established through a wide array of deeds, leases, easements and other contractual agreements. AbitibiBowater’s various rights are described in Section VI.A(1) below.
Conclusion: The Debtor has extensive land rights, timber rights, water use rights and various other real property rights.
'Courts of bankruptcy are essentially courts of equity, and their proceedings inherently are proceedings in equity.'
