Stelco creditors' vote on plan delayed again

Nov 21, 2005 | 10:57 AM | Maria Guzzo

Stelco Inc., Hamilton, Ontario, has a few thorns to deal with before it finds itself walking the path toward restructuring.

The creditors' vote on the company's restructuring plan was delayed again Monday, with debtors now set to head back to court Wednesday for a vote.

Courtney Pratt, Stelco's president and chief executive officer, said the number of stakeholder groups and issues has prevented the company from reaching an agreement. "We had hoped to achieve greater progress towards a consensual plan during the around-the-clock negotiations that have occurred in recent days," he said. "It's time to place a plan before....

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