Bankrupt Smelter Can Cut Operations As It Awaits Utility Ruling

Law360, Wilmington (July 23, 2013, 6:16 PM EDT) -- A Delaware bankruptcy judge Tuesday allowed aluminum smelter Ormet Corp. to curtail operations at both of its facilities as it waits for a decision from Ohio utility regulators on a power agreement crucial to closing its $130 million sale to private equity firm Wayzata Investment Partners LLC.

U.S. Bankruptcy Judge Mary F. Walrath said from the bench Ormet had persuaded her it had an immediate need to cut operations at its Ohio and Louisiana facilities because it needs to stretch its funds while it waits for...
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