U.S. Steel Canada Inc., (formerly Stelco), May 2, 2017
May 2, 2017
The Creditors’ Meetings were held in Toronto on April 27, 2017. As a result of the votes cast in each of the Meetings of the class of the General Unsecured Creditors and the class of the Non-USW Main Pension and OPEB Claim holders, the Amended Plan was voted in favour by a majority of the creditors at the Meetings. To view a copy of the Thirty-Ninth Report of the Monitor, which describes the results of the Meetings in detail, please click here.
The Amended Plan must now be approved by the CCAA court as being fair and reasonable in the circumstances. There are also a number of key conditions to the implementation of the Amended Plan, including that revised USW collective bargaining agreements be entered into by each of Local 1005, Local 8782, and Local 8782B. We will continue to update you as information becomes available.