Steel Mills
August 20, 2015
Canadian Judge Lets Objections to US Steel Debt Remain in Proceedings
Written by Sandy Williams
US Steel Corp. lost its bid to keep objections to its debt claims out of the CCAA proceedings for US Steel Canada. US Steel claims it is owed $2.2 billion by USSC, an amount that the United Steelworkers, the province, and former Stelco president Bob Milbourne question.
Justice Herman Wilton-Siegel in his decision wrote that there were “good reasons” for keeping objections in the restructuring proceedings including improving the chance to find a solution in that will keep the Canadian mills operating.
