Posted in | News | Ferrous Alloys and Metals | Iron and Steel

Bethlehem Steel to Submit Liquidation Plan

May 13 2003

Following the completion of the sale of most of its assets to International Steel Group for $805 million, Bethlehem Steel will file a plan to liquidate the company. Consequently, they will be required to submit plans for the Chapter 11 liquidation within 30 days of May 7, the date when their assets were disposed of.

They expect to be able to raise enough from the liquidation to repay secured creditors, and to be able to distribute a further $15 million amongst general unsecured creditors.

For more information on steel manufacture, click here.

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