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Published on 9/29/2015 in the Prospect News Distressed Debt Daily.

Union: U.S. Steel Canada retiree benefits court proceedings postponed

By Caroline Salls

Pittsburgh, Sept. 29 – U.S. Steel Canada Inc.’s retiree benefits court proceedings have been rescheduled to at least Thursday “due to developments late Monday,” according to a news release from the United Steelworkers (USW).

The USW said the date of the court proceedings is still to be confirmed.

The union said the court was previously scheduled to hear a motion from the USW opposing the company’s threat to suspend pension plan contributions and health benefits for retirees on Sept. 29.

As previously reported, U.S. Steel Canada is under court-supervised insolvency protection. Its parent company, U.S. Steel, has decided to move production of high-value steel out of Hamilton and Nanticoke to its American facilities.

The USW said U.S. Steel Canada’s Canadian workers, pensioners, community leaders and court-appointed monitor have objected to the move.

Hamilton, Ont.-based U.S. Steel Canada’s operations are located at Lake Erie Works, a fully integrated steelmaking facility, and at Hamilton Works, a cokemaking and finishing facility. U.S. Steel is a Pittsburgh-based steelmaker.


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