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