Debtor’s Averment 42 (Page 17)
AbitibiBowater’s pulp and paper mill at Grand Falls continued to be powered principally by energy generated from the Bishop’s Falls and Grand Falls hydroelectric generation facilities, which together form part of what is hereafter referred to as the “Exploits River Hydro Assets.” The rights structure for the Exploits River Hydro Assets is a complex one, but the assets include among other things:
the Millertown dam (to which AbitibiBowater obtained rights in 1905);
the water use and hydroelectric generation rights at Grand Falls (which may be traced to Reid Lot 59, the Charter Lease, and a 2002 water use license, one of the 50-Year Licenses referenced above);
the Grand Falls power house and dam (which are located within Reid Lot 59);
the water use and hydroelectric generation rights at Bishop’s Falls (which can be traced to the Bishop’s Falls Deed, including the Bishop’s Falls Waterpower Lease and a 2002 water use license, one of the 50-Year Licenses referenced above); and
the Bishop’s Falls power house and dam (which rights were conferred by the Bishop’s Falls Deed).
Conclusion: The Debtor’s Rights’ structure is complex and includes many assets.
'Courts of bankruptcy are essentially courts of equity, and their proceedings inherently are proceedings in equity.'
