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Algoma Moves To End Creditor Protection
08/06/2018 - After operating under creditor protection for more than two and a half years, Canada’s Algoma might be set to emerge under new ownership.
According to The Sault Star, the parties involved in the case are seeking court approval to sell the business to a group of Algoma lenders and on a plan to recapitalize the business. The agreements will clear it of US$900 million in debt and provide it with US$300 million in fresh capital.
The Star has more here.
