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International Utility Structures files for protection from creditors
New York, Oct. 17 - International Utility Structures Inc. said it filed for protection from its creditors under the Companies' Creditors Arrangement Act in the Court of the Queen's Bench of Alberta.
The Calgary, Alta. manufacturer of metal overhead support structures said it will develop a restructuring plan for its debt.
On Aug. 29, International Utility Structures said it did not make the $3.75 million coupon payment due Aug. 1 on its 10¾% senior subordinated notes maturing Feb. 1, 2008 and 13% subordinated notes due Feb. 1, 2008 within the 30 day grace period.
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