Ontario, Bedrock sign MOU to aid with US Steel Canada restructuring
Aim is to protect jobs, pensions and ongoing operations at the Hamilton and Lake Erie facilities.
Insolvent Essar Steel Algoma accepts bid for assets
Value of KPS’s joint bid with several lenders not disclosed.
US Steel Canada begins sale under creditor protection
Lake Erie and Hamilton Works operations employ about 2,000 workers.
US Steel Canada says funding “appropriate” for sale
American parent company requires the $185 million loan be first to be repaid.
Azure Dynamics to sell patent portfolio under CCAA process
Produces hybrid components, powertrain systems for commercial vehicles
Creditors approve Catalyst restructuring plan
Previous plan failed to win support from lenders, unionized workers.
Catalyst Paper gets $175M financing
Pulp and paper producer Catalyst Paper has secured up to $175 million in financing as it moves forward with restructuring under court protection from creditors.
Timminco finds possible buyer, short-term funds
Insolvent Timminco and its Becancour Silicon subsidiary have received a commitment for US$4.25 million to fund the insolvent specialty metal producers’ operations while they restructure under court protection from creditors.
Finding your way to financial stability doesn’t have to be complicated. Look at refinancing, restructuring or selling.
New insolvency reforms will impact your business
Many manufacturers may not feel the long-anticipated amendments to…