Business
Stelco obtains extension of stay period until December 12, 2005
Stelco obtains extension of stay period until December 12, 2005.
About this update from Starr Peak Mining Ltd
[{"type":"text","content":"\n\n\n\n\nHAMILTON, ON, Dec. 6 /CNW/ - Stelco Inc. (TSX:STE) today was granted an\nOrder of the Superior Court of Justice (Ontario) extending the stay period\nunder its Court-supervised restructuring from today until December 12, 2005.\nThe Court also directed that the previously-adjourned meetings of\naffected creditors will resume on December 9, 2005 for the purpose of\nconsidering and voting on the restructuring plan announced on December 5,\n2005, with or without amendment.\nCourtney Pratt, Stelco President and Chief Executive Officer, said,\n\"We'll do everything we can to achieve an agreement among stakeholder groups\nby the time of Friday's vote. We believe that a creditor-supported plan\nreceiving a positive vote is much better for all concerned than the\nalternatives if the plan is defeated.\n\nAbout Stelco\nStelco Inc. is a large, diversified steel producer. Stelco is involved in\nmajor segments of the steel industry through its integrated steel business,\nmini-mills, and manufactured products businesses. This news release may\ncontain forward-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 2004 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":1559,"tagName":"div"}]