March 15, 2017
Essar Steel Minnesota LLC filed an amended Chapter 11 disclosure and $2 billion draft reorganization plan in Delaware bankruptcy court late Tuesday, reworked in part to reflect unresolved lender doubts and disputes with Minnesota's state government over crucial mining rights.
March 14, 2017
Chapter 11 debtor Essar Steel Minnesota LLC asked a Delaware bankruptcy court Monday to allow a $33 million proof of claim that will settle a long-running contract dispute with a natural gas transporter, saying that the deal "obviates the need for protracted litigation."
March 13, 2017
Canadian steelmaker Essar Steel Algoma Inc. said Friday that its coal supplier breached its contracts with the Chapter 15 debtor by sending it less product than required, some of it poor quality, and forcing Algoma to spend more than $13 million seeking coal from third parties.
February 24, 2017
Bankrupt iron ore mining firm Essar Steel Minnesota LLC asked a Delaware judge Friday to authorize the company to enter into agreements with the United Steelworkers aimed at stabilizing labor relations as Essar moves forward with plans to complete construction of a mine and processing facility.
February 14, 2017
Essar Steel Minnesota LLC and the Minnesota Department of Natural Resources agreed to discuss scheduling for hearings on the agency’s opposition to Essar’s plan to assume mineral rights leases in its Chapter 11 reorganization plan after a Delaware judge urged both sides to continue talks Tuesday.
February 09, 2017
Minnesota’s Department of Natural Resources objected Wednesday in Delaware to the Chapter 11 plan of Essar Steel Minnesota LLC, saying the company’s plan to assume mineral rights leases shouldn’t fly because Essar hasn’t performed under the terms of those leases and has no hope to in the near future.
February 03, 2017
A bankrupt Minnesota iron ore mine-and-mill venture told the Delaware bankruptcy court Thursday it would pay "enhanced" Chapter 11 recoveries to project contractors and mechanics' lienholders if state officials agree to keep public land mineral leases in effect after reorganization of the $1.9 billion project.
January 11, 2017
Essar Steel Minnesota LLC on Wednesday filed a lawsuit in its Delaware bankruptcy case seeking $1 billion in damages from Essar Global Fund Ltd., claiming that the parent company failed to financially back the subsidiary's now-delayed iron ore plant.
December 13, 2016
Bankrupt Essar Steel Minnesota LLC won a Delaware bankruptcy court's approval Monday to rename itself Mesabi Metallics Co. LLC, but by any label it still faces a mountain of more than $1.1 billion in debt and reams of lawsuits in its Chapter 11 reorganization efforts.
November 17, 2016
Minnesota lost an attempt Thursday to immediately reclaim public mineral rights held by bankrupt and idled mine- and mill-developer Essar Steel in a Delaware court ruling that left intact a Feb. 3 company deadline for nailing down leases needed for the $2 billion project.