Case Background

Essar Steel Algoma Inc. and 5 of its affiliates (collectively, "Algoma”) have commenced a restructuring proceeding (the “Canadian Proceeding”) in the Ontario Superior Court of Justice (Commercial List) (the “Canadian Court”) under the Companies’ Creditors Arrangement Act (the “CCAA”). 

On November 9, 2015, Algoma and 4 of its affiliates (collectively, the “Original Algoma Debtors”) commenced the Canadian Proceeding to restructure Algoma’s finances while continuing normal operations under the protections offered by the CCAA.  Algoma has secured “debtor in possession” or “DIP” financing totaling $200 million from a syndicate of lenders with Deutsche Bank AG New York Branch as the agent to provide it further liquidity.  The Canadian Court has appointed Ernst & Young Inc. to serve as the Monitor in the Canadian Proceeding.

On the same day they commenced the Canadian Proceeding, each of the Original Algoma Debtors filed a voluntary petition under chapter 15 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).  The chapter 15 cases are ancillary proceedings, through which Algoma has sought to have the relief granted by the Canadian Court in the Canadian Proceeding be recognized and enforced in the United States.  Algoma's chapter 15 cases are jointly administered under one lead case, Case No. 15-12271.

Subsequently, on November 19, 2015, Algoma Holdings B.V. also filed an application under the CCAA in the Canadian Proceeding and, on November 20, 2015, filed a voluntary petition under chapter 15 of the United States Bankruptcy Code in the Bankruptcy Court.  The Bankruptcy Court has ordered that Algoma Holdings B.V.’s case shall be jointly administered under Case No. 15-12271 and that certain prior orders entered in the lead case with respect to the Original Algoma Debtors shall apply to Algoma Holdings B.V. as well.

For further information regarding the Canadian Proceeding, please contact Ernst & Young Inc., the Monitor, at essaralgoma@ca.ey.com or by phone at 855-941-1820 (United States & Canada) or 416-941-1820 (International), or visit the Monitor’s website at www.ey.com/ca/essaralgoma.

For further information regarding the chapter 15 cases, please contact Prime Clerk LLC, Algoma’s claims and noticing agent, at essarsteelinfo@primeclerk.com, by submitting an inquiry at the link above, or by phone at 844-205-4336 (United States & Canada toll free) or 917-962-8385 (International).

 

Important Information & Dates

Useful Links

Customer News

Canadian Proceedings

Hearing on First Day Motions

Hearings on the Original Algoma Debtors’ and Algoma Holdings B.V.’s First Day Motions were held on November 10, 2015 at 1:00 p.m. (ET) and November 23, 2015 at 2:15 p.m. (ET), respectively, before the Honorable Brendan L. Shannon in the Bankruptcy Court. 

Please click below to view and download Algoma's First Day Motions and Orders:

First Day Motions

First Day Orders

Final Recognition Granted

The court has approved the Debtors’ chapter 15 petitions and the relief requested on a final basis. The relief granted includes recognizing the Canadian Proceeding as a foreign main proceeding under chapter 15 of the Bankruptcy Code and giving full force and effect to orders entered in the Canadian Proceeding.

Order (AMENDED FINAL) Granting Recognition of Foreign Main Proceeding and Certain Related Relief [Docket No. 100]

Order (SUPPLEMENTAL) Directing Final Recognition Order in Chapter 15 Cases of Essar Steel Algoma Inc., Et Al. be Made Applicable to Algoma Holdings B.V. [Docket No. 126] 

Submitting a Claim

The Ontario Superior Court of Justice (Commercial List) has approved a claims procedure that sets claims bar dates and will govern the submission and reconciliation of all claims against Algoma.  Please click below for further information regarding how to submit a claim.

Submit a Claim 

Sale and Investment Solicitation Process

The Ontario Superior Court of Justice (Commercial List) has approved a Sale and Investment Solicitation Process (the "SISP"). Please click below for a copy of the order.

Order re: SISP 

Dates

February
22

Omnibus Hearing

10:00 a.m. (EST)
February
26

Deadline to File Prefili...

5:00 p.m. (EST)
March
21

Omnibus Hearing

10:00 a.m. (EST)
November
9
__________
February
26
5:00 p.m. (EST)

Deadline to File Prefiling Claims

Parties

Algoma's U.S. Counsel

Weil, Gotshal & Manges LLP

767 Fifth Avenue
New York, NY   10153
http://www.weil.com
Phone: 212.310.8000
Fax: 212.310.8007
Ray C. Schrock, P.C.
Matthew S. Barr
Kelly DiBlasi
Jessica Liou

Richards, Layton & Finger, PA

One Rodney Square, 920 North King Street
Wilmington, DE   19801
http://www.rlf.com
Phone: 302.651.7700
Fax: 302.651.7701
Mark D. Collins
Daniel J. DeFranceschi
Amanda R. Steele

Algoma's Canadian Counsel

Stikeman Elliott LLP

5300 Commerce Court West
199 Bay Street
Toronto, ON   M5L 1B9
http://www.stikeman.com
Phone: 416.869.5500
Fax: 416.947.0866
Ashley John Taylor
Yannick Katirai
Patrick Corney

United States Trustee and Court Information

Office of the United States Trustee

844 King Street, Suite 2207
Wilmington, DE   19801
http://www.justice.gov/ust/r03/wilmington/index.htm
Phone: 302.573.6491
Tim Fox

United States Bankruptcy Court

District of Delaware
824 Market Street North, 3rd Floor
Wilmington, DE   19801
http://www.deb.uscourts.gov
Phone: 302.252.2900


Debtors

Case Number
Debtor Name
Petition Date
15-12271 Essar Steel Algoma Inc. November 09, 2015
15-12270 Essar Steel Algoma Inc. USA November 09, 2015
15-12273 Essar Steel Algoma (Alberta) ULC November 09, 2015
15-12274 Essar Tech Algoma Inc. November 09, 2015
15-12272 Cannelton Iron Ore Company November 09, 2015
15-12349 Algoma Holdings B.V. November 20, 2015