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Ormet creditors’ meeting slated for April 11

Keywords: Tags  Ormet, bankruptcy protection, Chapter 11, creditors meeting, aluminum, Michael Cowden


CHICAGO — A meeting of creditors of bankrupt primary aluminum producer Ormet Corp. will be held April 11 in Wilmington, Del., according to court documents.

Hannibal, Ohio-based Ormet filed for Chapter 11 bankruptcy protection Feb. 25, citing high legacy and power costs and low aluminum prices ( amm.com, Feb. 26).

The company listed its total number of credits at between 1,000 and 5,000, according to court documents filed in a Delaware bankruptcy court.

The top three unsecured creditors are the Ormet Pension Plan, owed $143 million; the Ormet Hannibal Hourly Voluntary Employees Beneficiary Association plan ($48.4 million); and utility American Electric Power Co. Inc., Columbus, Ohio ($33.3 million).


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