United States

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U.S. Steel Idles Hamilton Coke Making

U.S. Steel is indefinitely idling its coke-making operations in Hamilton as it restructures the company and looks for a potential buyer — part of what a union head calls a piece-by-piece dismantling of the plant, CBC.ca reported. The company is “hot idli ...

Daily Headline - global.abi.org - 10/28/2014 - 22:05 - 0 comments

LDK Files Bankruptcy in U.S. Court on China Solar Glut

LDK Solar Co., the Chinese solar-cell maker that defaulted on its bonds this year, filed for bankruptcy in the U.S. to help carry out restructurings already under way in Hong Kong and the Cayman Islands, Bloomberg News reported. Xinyu, China-based LDK fi ...

Daily Headline - global.abi.org - 10/21/2014 - 20:27 - 0 comments

U.S. Steel, Hamilton Workers Reach Tentative Agreement

The United Steelworkers union has reached a tentative contract agreement with U.S. Steel Canada Inc. that covers workers in Hamilton, marking the first time the steel company has not locked out workers at one of its two major Canadian mills, The Globe ...

Daily Headline - global.abi.org - 10/14/2014 - 21:06 - 0 comments

U.S. Steel Gets Ontario Approval For Canadian Operations Financing Plan

Stakeholders have approved a controversial but essential step in U.S. Steel Canada Inc.’s bankruptcy protection process, allowing the company to move ahead with a restructuring that could result in the sale of its Canadian operations, the Financial Pos ...

Daily Headline - global.abi.org - 10/08/2014 - 21:16 - 0 comments

U.S. Steel Hearing Postponed For Negotiations

The Ontario Superior Court has adjourned a hearing on U.S. Steel Canada Inc. under the Companies’ Creditors Arrangement Act, The Globe and Mail reported. The hearing has been postponed until Tuesday so lawyers can try to negotiate a deal on debtor-in ...

Daily Headline - global.abi.org - 10/06/2014 - 20:08 - 0 comments

Ulster Bank Opposes Withdrawal Of Dunne Bankruptcy Case In US

Property developer Seán Dunne would be allowed to “further manipulate assets” and frustrate the efforts of his creditors if he is allowed to withdraw his US bankruptcy case, Ulster Bank has told a US court, the Irish Times reported. Objecting to Mr D ...

Daily Headline - global.abi.org - 10/01/2014 - 19:57 - 0 comments

US Judge Griesa Holds Argentina In Contempt In Debt Case

A U.S. judge held Argentina in contempt of court on Monday, saying the republic was trying to find ways to circumvent a prior order requiring it pay holdout bondholders at the same time as other creditors who restructured their debt in recent years, Reut ...

Daily Headline - global.abi.org - 09/29/2014 - 20:14 - 0 comments

Argentina Tries To Pay Debt Outside US

In its latest attempt to circumvent US courts, Argentina will seek to pay nearly $200m due on its restructured bonds by disbursing the money to investors next week via a local bank instead of Bank of New York Mellon, its trustee, the Financial Times ...

Daily Headline - global.abi.org - 09/25/2014 - 21:28 - 0 comments

Citigroup Tells Appeals Court of Its Argentina Quandary

Argentina is holding a gun to the head of Citigroup, a lawyer for the bank told a three-judge panel in Manhattan on Thursday, the International New York Times DealBook blog reported. The bank has found itself in an awkward position: It must decide be ...

Daily Headline - global.abi.org - 09/18/2014 - 20:38 - 0 comments

Dunne Bankruptcy Hearing To Be Heard In December

An application by property developer Sean Dunne to end his US bankruptcy case will be heard by a Connecticut judge at trial in December, the Irish Times reported. Judge Alan Shiff set the trial date for December 3rd in a court filing yesterday. He ha ...

Daily Headline - global.abi.org - 09/11/2014 - 20:43 - 0 comments

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