Ontario, equity fund sign MOU with USS Canada

摘要

The government of Ontario and Bedrock Industries announced Wednesday that they signed a memorandum of understanding (MOU) to facilitate the restructuring of US Steel Canada. USSC has been under court-supervised creditor protection under the Companies? Creditors Arrangement Act (CCAA) since it filed for bankruptcy in September 2014. Ontario?s Ministry of Finance said in a statement that the "MOU is an important step toward the completion of a restructuring intended to protect jobs, the ongoing operations at USSC's Hamilton and Lake Erie facilities, pensions and post-employment benefits for active and retired USSC employees."