CHICAGO A utility and three benefits groups have been appointed to the unsecured creditors committee in the Chapter 11 bankruptcy proceedings of aluminum producer Ormet Corp.
Documents filed March 7 in a Delaware bankruptcy court show that the committee includes the United Steelworkers union, Pittsburgh; American Electric Power Co. Inc., Columbus, Ohio; the Corporation Hourly Retiree Benefit Trust, Pittsburgh; and the Pension Benefit Guaranty Corp., Washington.
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).