Judge Lashes Out Over Delays In Stelco Bankruptcy

Law360, New York (February 13, 2006, 12:00 AM EST) -- Frustrated by the constant delays, a judge overseeing bankruptcy proceedings for Canadian steel maker Stelco Inc. exploded last week after lawyers suggested that the company would not emerge from bankruptcy for another month.

On Friday, Justice James Farley of the Ontario Supreme Court chastised Robert Thornton, a lawyer for the monitor overseeing the proceedings, when he proposed that Stelco leave creditor protection at the end of March, further postponing its intended exit.

Stelco has been operating under Companies’ Creditors Arrangement Act protection since Jan. 29, 2004,...
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