15
Nov
10:53
Supreme Court clears path for ArcelorMittal's Essar acquisition
India’s Supreme Court has cleared the way for ArcelorMittal to complete its acquisition of bankrupt flat steelmaker Essar Steel.
The court set aside a July National Company Law Appellate Tribunal (NCLAT) ruling that Essar’s operational creditors have to be treated on a par with financial creditors when splitting the proceeds. Essar’s corporate insolvency resolution process (CIRP) was subsequently halted after lenders to the bankrupt steelm…
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Anonymous
Very good overview of the weekly steel market.
Anonymous