Steel Mills
January 9, 2015
USSC Creditor Protection Deadline Draws Near
Written by Sandy Williams
US Steel Canada has until Tuesday to file the necessary papers to extend the creditor protection order that is set to expire on January 23. The extension is likely to be granted as long as USSC shows progress towards restructuring plans for Lake Erie Works and Hamilton Works—progress that USSC says is continuing.
“The CCAA process will continue as long as the court appointed Monitor and the Court are satisfied that the parties are working in good faith toward a solution,” said USSC spokesperson Trevor Harris in an email to the Hamilton Spectator. “The monitor and the court appointed chief restructuring officer will continue to report to the court regarding progress and work toward a restructuring solution.”
