Bankruptcy & Restructuring
Reorganizations of companies; their operations and personnel; and their debts.
Latest News
Alpha Natural Resources Hopes to Exit Bankruptcy This Summer
08 March 2016 - Bankrupt metallurgical and thermal coal miner Alpha Natural Resources has filed a plan to exit U.S. Chapter 11 bankruptcy, but it will leave as a much smaller organization.
Judge Confirms U.S. Steel Debt Claims Against Former Canadian Subsidiary
01 March 2016 - An Ontario judge has sided with United States Steel Corporation, agreeing that the steelmaker is indeed owed more than $2.2 billion from its former Canadian subsidiary, U. S. Steel Canada (USSC).
Ohio Electrode Manufacturer Adjusts Organizational Chart, Launches Strategic Review
01 March 2016 - Graphite electrode manufacturer GrafTech International Ltd. plans to realign its two business units and is considering a sale of one of them, the Ohio-based company has announced.
Report: Tata Steel Preparing to Restructure India Operations
23 February 2016 - India’s Tata Steel is planning to restructure its domestic operations in a bid to cut costs and boost productivity, reports The Economic Times.
Usiminas' Controlling Shareholders Considering Support for the Ailing Business
19 February 2016 - The joint controlling shareholders of Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA are trying to settle on a way to prop up the ailing business, which is struggling to make it through some of the worst times in Brazil’s steel industry in years.
Texas, Louisiana Mini-Mills on the Sales Block, ArcelorMittal Confirms
08 February 2016 - In addition to its U.S. rail mill in Steelton, Pa., ArcelorMittal has put two other long products mini-mills on the market – its Vinton mini-mill near El Paso, Texas, and the other in LaPlace, La.
Write-downs, Restructuring Costs Help Push Tata Steel's Q3 Earnings into the Red
04 February 2016 - Tata Steel Ltd. lost Rs 2,127 crore in its third quarter as it continues to face low prices and competition from imports.
ArcelorMittal Might Part With U.S. Rail Mill and Other Long Products Facilities
03 February 2016 - ArcelorMittal, the world’s largest steelmaker, is considering a sale of its Pennsylvania, USA, rail mill, along with other U.S. long steel assets.
Essar Steel Algoma to Begin Shopping Itself Around
20 January 2016 - Canada’s Essar Steel Algoma is to begin searching for a buyer or major investor in its Sault Ste. Marie, Ont., integrated mill, reports the online publication SooToday.com.
U. S. Steel Canada Gets the Go-Ahead to Initiate a New Sales Process
13 January 2016 - A Canadian court has signed off on U. S. Steel Canada Inc.’s plan to try, for a second time, to find a buyer, according to The Hamilton Spectator newspaper.
U. S. Steel Canada Stakeholders in Talks With Potential Buyers, Investors
11 January 2016 - Outside investors are taking a look at buying -- or buying into -- U. S. Steel Canada Inc. (USSC), which has been operating under creditor protection since September 2014, reports The (Toronto) Globe and Mail newspaper.
With Debt Payment Coming Due, Essar Steel Algoma Files for Creditor Protection
09 November 2015 - Canada’s Essar Steel Algoma Inc. has filed for creditor protection under Companies' Creditors Arrangement Act (CCAA), marking its second round of debt restructuring in recent years.
Court to Reconsider Whether 'Secret' Deal Between U. S. Steel, Canadian Government Can Be Made Public
15 October 2015 - The Canadian courts will be taking a look at whether a 4-year-old deal between United States Steel Corporation and the Canadian government can remain confidential.
Judge OKs U. S. Steel's Divorce From Its Canadian Operation
12 October 2015 - A Canadian judge has approved the split between United States Steel Corporation and its Canadian subsidiary, U. S. Steel Canada Inc. (USSC).
U. S. Steel Canada May Be Split From American Parent
08 October 2015 - U. S. Steel Canada Inc. (USSC) may once again become an independent business, if an Ontario court approves an agreement on the future of the former Stelco operation.
Unions Agree to Wage Freeze, Job Cuts at Australian Steel Works
08 October 2015 - Employees at an Australian steel works have accepted concessions in a bid to keep the operation afloat.
U. S. Steel Canada Can’t Afford Pension Contributions, Court Monitor Says
06 October 2015 - The court-appointed monitor in U. S. Steel Canada's (USSC) creditor protection case is supporting the company's request to halt pension plan contributions and retiree benefits, but is opposing parent United States Steel Corporation's request to cease providing ministrative and support services for the company.
Union: Discussions Over U. S. Steel Canada's Future Ongoing
30 September 2015 - Mediated talks between United States Steel Corporation , the United Steelworkers union and others over the future of its Canadian operations are continuing behind closed doors, according to The Canadian Press news service.
Special Steel Manufacturer Put Into Administration
28 September 2015 - A U.K. special steel manufacturer has been placed in the hands of a court-appointed administrator while a buyer is sought for the business.
Judge Prescribes Mediation for Ailing U. S. Steel Canada
17 September 2015 - A judge has ordered United States Steel Corporation and others into mediation to hash out the future of the company's Canadian operation, U. S. Steel Canada (USSC), according to The Hamilton Spectator newspaper.
