Essar OKs $33M Bankruptcy Claim To Settle Contract Fight

Law360, New York (March 14, 2017, 8:54 PM EDT) -- Chapter 11 debtor Essar Steel Minnesota LLC asked a Delaware bankruptcy court Monday to allow a $33 million proof of claim that will settle a long-running contract dispute with a natural gas transporter, saying that the deal "obviates the need for protracted litigation."

ESML, which recently changed its name to Mesabi Metallics Co. LLC, said that after negotiations with TransCanada Corp. unit Great Lakes Gas Transmission LP, the parties have reached a settlement resolving a dispute that has spilled over from federal court in Minnesota to the Delaware bankruptcy court.

Seeking an order and judgment allowing Great Lakes' $33 million proof...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!