Posted on 13/07/05
Stelco set to disclose plan to revamp, exit bankruptcy
Insolvent Stelco Inc. says it will outline a plan on Friday to restructure its finances and exit bankruptcy protection.The plan attempts to balance the interests of creditors, unions and bondholders, "which in many cases are inconsistent," the Hamilton-based steel maker said in a statement yesterday. The plan will be submitted to a judge overseeing the restructuring.
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