Steelworkers' benefits decision postponed in U.S. Steel Canada bankruptcy hearing - News Summed Up

Steelworkers' benefits decision postponed in U.S. Steel Canada bankruptcy hearing


Read more tweets from the court hearing Wednesday below. U.S. Steel Canada's protection from creditors will be extended through Nov. 30, Superior Court Judge Herman Wilson-Siegel ordered on Wednesday, to allow it time to continue negotiations with interested buyers. READ MORE: U.S. Steel Canada retirees to ask judge to reinstate their benefitsBut that motion – and a request from U.S. Steel Canada to pay bonuses to 35 "key employees" – was postponed to give the parties time to negotiate a solution outside of court, Wilson-Siegel said. 'A sense of urgency'The delays seemed to irritate U.S. Steel, the American former parent company, too. Michael Barrack, attorney for U.S. Steel, argued the Canadian operation should not be allowed to continue under creditor protection.


Source: CBC News July 27, 2016 18:33 UTC



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