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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 (, 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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