Ormet gets interim approval of wind-down plan; next hearing Aug. 28

By Kali Hays

New York, July 28 – Ormet Corp. obtained an eleventh interim order approving the plan for winding down its business, according to a July 28 order with the U.S. Bankruptcy Court for the District of Delaware.

According to the order, the extension is necessary to "prevent immediate and irreparable harm to the debtors and their estates pending further hearings relating to wind-down."

The interim order allows the company to make payments in compliance with a budget that runs through Aug. 28, which is the next hearing date for the wind-down motion.

Ormet, a Hannibal, Ohio-based producer of aluminum, filed for bankruptcy on Feb. 26, 2013. The Chapter 11 case number is 13-10334.

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