Steel Mills
April 27, 2015
US Steel Canada Asks for Extension of Credit Protection
Written by Sandy Williams
US Steel Canada has filed for an extension of creditor protection with the Superior Court. It will be the third time that protection has been extended under the Companies Creditors Arrangement Act (CCAA). The new requested deadline is September 11.
Chief restructuring officer or USSC, Bill Aziz, said in an affidavit that progress has been made in talks with workers and creditor but more time is needed. Although the date of September 11 is being filed, USSC is expecting to extend the period beyond September, 2015.
