Stelco seeks another creditor hearing delay

Dec 01, 2005 | 09:54 AM | Maria Guzzo

Stelco Inc., Hamilton, Ontario, has again requested an adjournment of a creditor meeting slated for Dec. 2 as it attempts to put the finishing touches on a revised restructuring plan, but it is upbeat it can emerge from protection under the Companies' Creditors Arrangement Act early next year.

"With input from stakeholders, Stelco is in the process of finalizing the details of a plan that will be submitted to affected creditors for their consideration," Courtney Pratt, Stelco's president and chief executive officer, said. "While progress is being made, the process is taking longer to conclude than was envisioned a week ago."....

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