Steel Mills
October 7, 2014
US Steel Canada Bankruptcy Hearing On Hold
Written by Sandy Williams
The bankruptcy protection hearing for US Steel Canada was cut short on Monday morning and again on Tuesday as lawyers worked behind the scenes to negotiate a deal on the debtor in possession loan (DIP) and employee pensions.
The first meeting scheduled for Monday at 10:00 a.m. in Toronto did not begin until 11:00 a.m. and was quickly adjourned. Steel workers from the local USW in attendance boarded busses for home vowing to return for future court dates.
