Bankruptcy & Restructuring
Reorganizations of companies; their operations and personnel; and their debts.
Latest News
Offers for Bhushan Steel Stack Up
19 January 2018 - The interest in India’s ailing Bhushan Steel Ltd. appears to be piling up.
Canadian Bar Maker Put Up for Sale, Faces Potential Liquidation
18 January 2018 - Canadian special bar quality manufacturer Hamilton Specialty Bar (2007) Inc. was officially put up for sale on Thursday after one of its lenders called a CDN$27.5 million loan and forced it into receivership earlier this month.
Kentucky Mini-Mill to Close Permanently
11 January 2018 - A Kentucky mini-mill intends to shut down permanently by the end of winter, putting 113 people out of work.
Algoma Looks to Resume Labor Negotiations
08 January 2018 - Canadian steelmaker Algoma, which has been operating under creditor protection for more than two years, wants to return to the bargaining table with the United Steelworkers union and resolve the last major issue standing in the way of a restructuring, reports the online sootoday.com.
ArcelorMittal Wades Deeper Into Solar Market
05 January 2018 - ArcelorMittal is acquiring the assets of a bankrupt manufacturer of solar farm trackers, the steelmaker has announced.
New Owner of Stalled Taconite Project Prepares to Move Forward
28 December 2017 - The Essar Steel Minnesota project has emerged from Chapter 11 bankruptcy under new ownership and is firing new legal shots at would-be competitor Cleveland-Cliffs Inc., reports the Duluth News Tribune newspaper.
Optima Specialty Steel Exits Chapter 11 Bankruptcy
17 November 2017 - Optima Specialty Steel Inc., a U.S.-based manufacturer of special bar quality steel, cold-drawn pipe and tube and other specialty products, has emerged from Chapter 11 bankruptcy with a new executive at the helm and a new name.
List of Potential Essar Steel Investors Grows
28 August 2017 - The list of potential suitors for India’s Essar Steel is growing, according to Indian financial news portal moneycontrol.com
Report: Two International Steelmakers Eyeing India's Essar Steel
23 August 2017 - Tata Steel and POSCO might be among the companies looking at acquiring debt-stricken Essar Steel, which is operating under Indian insolvency laws.
New Owner of Australian Steel Works Promises Big Investment
19 July 2017 - Steel entrepreneur Sanjeev Gupta said he and his family plan to invest nearly US$780 million in Australia’s integrated Whyalla steel works, according to reports.
Stelco Completes Sale and Exits Creditor Protection
03 July 2017 - U.S. investment firm Bedrock Industries has closed on its acquisition of Canada’s Stelco, officially bringing to an end a decade of United States Steel Corporation ownership and nearly three years of uncertainty under creditor protection.
South Korean Consortium Prevails in Bidding on Australian Steel, Iron Ore Producer
16 June 2017 - A consortium led by a South Korean private equity firm has been declared the preferred bidder for Australian iron ore miner and steelmaker Arrium, the company’s financial administrator has announced.
Report: India's Central Bank Wants Essar Steel, 11 Others Ushered into Bankruptcy
16 June 2017 - India’s Essar Steel and Bhushan Steel reportedly are among 12 companies being recommended for bankruptcy by the country’s central bank, according to the Reuters news service.
Bankruptcy Judge Approves Reorganization Plan for Essar Minnesota Project
14 June 2017 - A U.S. Bankruptcy Court judge has given approval to a plan that, if successful, will allow the stalled Essar Steel Minnesota taconite mine and pellet plant to proceed to completion, reports the Duluth News Tribune.
Judge OKs Stelco Sale
09 June 2017 - A Canadian judge approved Stelco’s restructuring plan and sale to U.S. investment firm Bedrock Industries Group on Friday, a decision that will allow the steelmaker to emerge from creditor protection as a standalone business.
Two Submit Final Offers for Australian Steel Company
31 May 2017 - A steel producer and a private equity firm have submitted final bids for Australia’s Arrium Ltd., which collapsed into administration last year, according to the Reuters news agency.
Stelco Takes Another Step Toward Completing Sale
31 May 2017 - Members of the United Steelworkers union are getting their first look at tentative labor agreements between their locals and the investment firm looking to buy Canada’s Stelco, reports The Hamilton Spectator newspaper.
The World's Biggest Steelmaker May Win Europe's Largest Steel Works
30 May 2017 - ArcelorMittal and steel re-roller Marcegaglia have been named the preferred bidders for Italy’s ILVA steel works, reports the (London) Financial Times.
Essar Algoma Takes A New Name. But It's a Familiar One.
30 May 2017 - With a nod to the past, Canada’s Essar Steel Algoma is dropping Essar Steel from its name and rebranding itself simply as Algoma.
Essar Steel Algoma Makes Slow Progress on Restructuring
17 May 2017 - It appears that efforts to restructure Canada’s Essar Steel Algoma will continue into the summer, with the company seeking to extend its debtor-in-possession financing at least through August.
