Steel Mills
January 20, 2015
USS Canada Seeks Credit Protection Extension
Written by Sandy Williams
US Steel Canada will return to court on Wednesday to seek an extension of its credit protection until May 20, 2015. USSC received bankruptcy protection last September under the Companies Credit Arrangement Act (CCAA), beginning a lengthy restructuring process which includes the sale of US Steel Lake Erie Works and Hamilton Works.
Extensions are generally granted when significant progress is shown towards the restructuring effort. USSC spokesperson Trevor Harris said US Steel is “hopeful” that the extension will be approved.
