Battle for control yields sweeter offers as WCI hearings resume
Nov 16, 2005 | 10:02 AM
| Maria Guzzo
WCI Steel Inc. this week kicked off a second round of bankruptcy court hearings aimed at deciding who will gain control of the steelmaker when it emerges from bankruptcy protection.
The reorganization hearings for the Warren, Ohio,-based company started Nov. 14 in U.S. Bankruptcy Court for the Northern District of Ohio, Eastern Division, in Akron and are slated to continue through Nov. 22.Following the hearings, the judge will decide on the finalization and approval of two competing reorganization plans-one sponsored by WCI along with parent company Renco Group Inc., New York, and the other by the company's noteholders, who are owed more than $300 million. The judge has no specific timeline to make the decision.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.