Bankruptcy & Restructuring
Reorganizations of companies; their operations and personnel; and their debts.
Latest News
Italy Moves to Repossess Its Largest Steelworks
20 February 2024 - The Italian government is placing the operator of the country's largest steelworks into extraordinary administration, removing control from majority owner ArcelorMittal.
Italy Takes Steps to Repossess Its Largest Steelworks
19 January 2024 - The Italian government is moving to put the former ILVA steelworks under special administration after failing to agree with majority owner ArcelorMittal on a capital injection plan, reports the (London) Financial Times.
Report: Danieli, Metinvest Stepping In to ILVA Plant
17 January 2024 - Italian plant manufacturer Danieli and Ukraine’s Metinvest have reached an agreement with the Italian government to reboot the former ILVA plant in Tuscany, according to the Reuters news service.
CELSA Creditors Win Control of Company
05 September 2023 - Creditors of Spanish long products maker CELSA Group will take control of the company after a judge approved a multi-billion-euro restructuring plan.
McDonald Steel to Permanently Close
28 June 2023 - Opened in 1918 by the Carnegie Steel Co., the special shapes mill in McDonald, Ohio, USA, will close permanently by year’s end.
POSCO to Shift Steel Operations to New Holding Company
13 December 2021 - South Korean steelmaker POSCO announced last week that it plans to spin off its steelmaking arm into a separate, unlisted holding company, POSCO Holdings Inc.
Report: LIBERTY Steel to Possibly Restructure Belgian Steel Plants
24 September 2021 - According to a press release from S&P Global Platts, LIBERTY Steel Group has announced a possible restructuring of its steel plants in Flémalle and Tilleur, Liège, Belgium.
thyssenkrupp Delays Steel Division Spinoff Until 2022
12 August 2021 - Buoyed by higher steel prices and rising demand, the German conglomerate will defer its planned spinoff of its Steel Europe division until next spring, according to Industry Europe magazine.
LIBERTY Steel Restarts Polish Heavy Plate Mill
12 January 2021 - LIBERTY Steel Group is leasing one of Poland’s largest steel mills and has resumed production, the company has announced.
Liberty Steel to Acquire Bankrupt Bayou Steel for US$28 Million
26 December 2019 - Sanjeev Gupta’s Liberty Steel Group has been named the preferred buyer for bankrupt long products maker Bayou Steel Group, which suddenly halted operations this fall and laid off more than 400 people.
India’s Supreme Court Clears Essar Acquisition
15 November 2019 - ArcelorMittal expects to soon plant a flag in India after the country’s Supreme Court paved the way for it complete its planned acquisition of Essar Steel India Ltd.
Jingye Steel Enters Agreement to Buy British Steel
13 November 2019 - China’s Jingye Group has struck an agreement to acquire long steel manufacturer British Steel Ltd., ending months of uncertainty about its future.
A Window Closes For One British Steel Bidder, But Opens for Others
28 October 2019 - Officials from China’s Jingye Group are to visit British Steel this week after the company’s court-appointed receiver and the preferred bidder failed to reach a sales agreement during a 10-week exclusivity period, reports the (London) Financial Times.
Liberty House Revisits Bid for British Steel
23 October 2019 - Sanjeev Gupta’s Liberty House Group has renewed discussions about taking over financially troubled British Steel, the U.K.’s second-largest steel producer, according to Sky News.
Investment Firm Expresses Interest in Bayou Steel
08 October 2019 - After filing for Chapter 11 bankruptcy last week and planning to close their doors, Bayou Steel Group may have a buyer in investor Jeff Sands.
Bayou Steel Plans Closure, Files for Chapter 11
02 October 2019 - Bayou Steel has declared bankruptcy and intends to permanently close its Louisiana and Tennessee mills by the end of November, reports Bloomberg News.
Turkish Company Named as Preferred Bidder for British Steel
19 August 2019 - The U.K. government announced Friday that Ataer Holdings A.S. will enter exclusive talks to purchase British Steel.
Quick Sale Sought for British Steel
07 August 2019 - Lenders to U.K. long steelmaker British Steel are pushing for a quick sale of the distressed business as talks continue with two potential buyers, reports Sky News.
Potential Buyers Lining Up to Acquire British Steel
08 July 2019 - The court-appointed receiver overseeing the sale of British Steel says there are several viable offers for the business, but that a sale likely will take some time to complete, reports The Guardian newspaper.
Early Interest in British Steel Buoys Hopes
28 May 2019 - Potential buyers are kicking the tires on British Steel, giving some hope that the U.K. long products maker might be saved.
