Essar Steel Algoma Inc.

Case No. 15-12271


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 26 2016 Deadline to File Prefiling Claims 5:00 p.m. (EST) Claims Procedu... Add to Calendar
March 21 2016 Omnibus Hearing 10:00 a.m. (EST) Certification ... Add to Calendar
October 24 2018 Omnibus Hearing 1:30 p.m. (EST) Order Scheduli... Add to Calendar
+ SHOW ALL DATES
November 9 2015 __
November 10 2015 1:00 PM (ET)
December 2 2015 12:00 PM (ET)
December 16 2015 10:30 a.m. (EST)
January 25 2016 11:00 a.m. (EST)
February 22 2016 10:00 a.m. (EST)
February 26 2016 5:00 p.m. (EST)
Deadline to File Prefiling Claims Claims Procedure Order Add to Calendar
March 21 2016 10:00 a.m. (EST)
October 24 2018 1:30 p.m. (EST)

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

Debtors

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