Business
Stelco announces filing of 57th Monitor's Report
Stelco announces filing of 57th Monitor's Report.
About this update from Starr Peak Mining Ltd
[{"type":"text","content":"\n\n\n\n\nHAMILTON, ON, March 29 /CNW/ - Stelco Inc. announces that the\nFifty-Seventh Report of the Monitor in the matter of the Company's\nCourt-supervised restructuring was served this afternoon. The full text of the\nReport will be accessible through a link available on Stelco's web site.\nThe Monitor expresses the view that, as at the time of the Report, it\nappears as though the Company's restructuring plan and reorganization of its\ncorporate structure will be implemented as planned on March 31, 2006.\nThe Report also reviews the previously announced process of finalizing\nand posting certain principal documents in connection with the restructuring\nand reorganization. The Report lists the parties to each of those documents.\nThe Monitor indicates that it will seek an Order extending the protection\nafforded it under Stelco's CCAA process until it is discharged. While plan\nimplementation is expected to occur on March 31, 2006, the Monitor's duties\nwill extend beyond that date. It may be several months before the claims\nprocedure and other matters for which the Monitor is responsible are\ncompleted.\n\nAbout Stelco\n\nStelco is one of Canada's longest-established steel companies. It is\ncurrently in the final stages of a Court-supervised restructuring. This\nprocess is designed to establish the Company as a viable and competitive\nproducer for the long term. The new Stelco will be focused on its two\nOntario-based integrated steel businesses located in Hamilton and in\nNanticoke. These operations produce high quality value-added hot rolled, cold\nrolled, coated sheet and bar products. This news release may contain\nforward-looking information with respect to the Corporation's business\noperations, financial performance and conditions. Actual results may differ\nfrom expected results for a variety of reasons including factors discussed in\nthe Corporation's Management's Discussion and Analysis section of the\nCorporation's 2005 Annual Report. To learn more about Stelco and its\nbusinesses, please refer to our Web site at www.stelco.ca.\n\n%SEDAR: 00001549E\n\n\n","length":2141,"tagName":"div"}]