Apr 21 2004
WCI Steel who filoed for Chapter 11 bankruptcy protection in September 2003 have filed a plan for the reorganisation of its business with the US Bankruptcy court.
The submitted plan has been approved by directors, however still requires approval of the bankruptcy courts and creditors.
The plan includes a new tentative labour agreement with the United Steelworkers of America, which also needs to be ratified before the WCI can execute their proposed plan to get out of bankruptcy.
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