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Bankruptcy & Restructuring

Reorganizations of companies; their operations and personnel; and their debts.

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New Ownership Taking Over Unfinished Minnesota Taconite Project

27 Apr 2017 - A Virginia billionaire and partners who include the United Kingdom’s Liberty House Group submitted the winning bid for the former Essar Steel Minnesota on Wednesday, offering to buy the half-finished taconite mine and pellet plant for US$550 million, reports the Minneapolis Star Tribune.

Stelco Sale Wins Support of Salaried Employees

20 Apr 2017 - A Canadian steelmaker said it now has handshake agreements with salaried employees and retirees on a proposed acquisition plan.

Two Look to Acquire Bankrupt Essar Steel Minnesota

11 Apr 2017 - Iron ore miner and an investor group are making competing bids for the former Essar Steel Minnesota, the half-built taconite mine and processing plant in Minnesota’s Iron Range, reports the Minneapolis Star Tribune newspaper.

Essar Algoma Wins Another Month Of Creditor Protection

31 Mar 2017 - A Canadian judge has extended Essar Steel Algoma’s protection from creditors for another month at the integrated steelmaker attempts to hammer out a new labor agreement with the United Steelworkers. 

Ontario Court Receives Stelco Restructuring Plan

14 Mar 2017 - Stelco Inc. has submitted a reorganization plan that, if successful, would keep the business intact and preserve more than 2,100 jobs, it has announced.

Steelworkers Refuse Mediation in Labor Discussions with Essar Algoma

02 Mar 2017 - A court-appointed mediator has scheduled mediation sessions among the United Steelworkers union, Essar Steel Algoma and the lenders looking to acquire the Canadian steelmaker. 

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