June 13, 2017
A bankrupt Minnesota mine and mill venture that once threatened to become a bottomless Delaware Chapter 11 money pit instead had its more than $1 billion plan confirmed Tuesday, putting the company on the track for a 10 million-ton-per-year project build-out.
June 05, 2017
Amid warnings that out-of-touch creditors were "playing with fire" and jeopardizing a more than $1 billion Chapter 11 plan, a Delaware judge on Monday ordered Essar Steel to seek a last-minute settlement conference with offshore lenders holding more than $700 million in claims.
April 26, 2017
A bankrupt and long-stalled Minnesota iron ore venture designated a new prospective buyer Wednesday in a more than billion-dollar Delaware Chapter 11 restructuring that still faces secured lender opposition.
April 25, 2017
An international consortium led by a wealthy Virginia entrepreneur and a multifaceted, U.K.-based alliance has emerged as the bidder to beat, ahead of a possible Wednesday Chapter 11 auction in Delaware for bankrupt Essar Steel's nearly $2 billion Minnesota mine and mill project.
April 24, 2017
TransCanada Corp. unit Great Lakes Gas Transmission LP told a Delaware bankruptcy court Friday to approve a bid from Chapter 11 debtor Essar Steel Minnesota LLC to allow a $33 million proof of claim that would settle a long-running contract dispute with the natural gas transporter, calling objections to the bid confounding.
April 14, 2017
A Minnesota mineral lease partnership objected Thursday to the continued inclusion of its land in plans for the former Essar Steel's Delaware bankruptcy, saying the multibillion-dollar venture has failed to get mechanic's liens lifted from its property and missed production deadlines.
April 10, 2017
A Virginia entrepreneur who acquired a bankrupt Midwestern iron ore processing business last year has set his sights on bankrupt former Essar Steel Minnesota LLC, with a last-minute offer to serve as Essar's minimum-bid stalking horse in its Delaware Chapter 11 sale.
April 05, 2017
Essar Steel Minnesota LLC received bankruptcy court approval Wednesday in Delaware on its emergency motion to restart construction on its iron ore mine project so that the company won't lose needed regulatory permits.
March 27, 2017
Iron ore mining company Essar Steel Minnesota LLC sought court permission Friday in Delaware to use the proceeds of its post-petition financing to fund the costs of restarting construction on its half-completed mine and processing facility.
March 16, 2017
Last-minute changes to Essar Steel's proposed bankruptcy disclosure prompted fresh criticisms of the Minnesota mine and mill venture's Chapter 11 plan on Wednesday, and new warnings of possible future opposition to the more than $2 billion reorganization itself.