Stelco monitor recommends extending stay to March 31

New York, Feb. 28 - Stelco Inc. said its court-appointed monitor recommending extending the stay period for its restructuring to March 31 from March 3 - and noted that the company could emerge from bankruptcy protection at the end of that period.

In its 52nd report, the monitor noted progress had been made in resolving issues related to the implementation of the company's restructuring.

Under the current timetable, documents will be finalized on March 17 and the restructuring implemented on March 31.

Stelco, a Hamilton, Ont.-based steel company, filed for bankruptcy under the Companies Creditors' Arrangement Act on Jan. 29, 2004 in the Ontario Superior Court for Justice.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.