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Ormet Corporation

  1. October 23, 2014

    Bankrupt Ormet Gets Nod To Dismiss Ch. 11 Case

    A Delaware bankruptcy judge on Thursday agreed to dismiss former aluminum smelter Ormet Corp.'s Chapter 11 case after approving a credit bid deal to sell its residual assets to private equity lender Wayzata Investment Partners LLC.

  2. July 23, 2014

    Ormet Judge Nixes Union Bid To Stay $25M Plant Sale

    A Delaware bankruptcy judge on Wednesday rejected a request to stay Ormet Corp.'s court-approved $25 million deal for a shuttered aluminum plant so a union trust could appeal the sale order, saying the debtor faced "enormous" harm if the deal didn't close.

  3. July 17, 2014

    Ormet Gets Nod For $25M Plant Sale Over Union Objection

    A Delaware bankruptcy judge on Thursday blessed Ormet Corp.'s $25 million sale of its shuttered aluminum plant, overruling an objection from a union trust that contended the deal improperly extinguished its $5.5 million pension claim.

  4. July 01, 2014

    Ormet Gets OK For $22M Private Mineral Rights Sale

    A Delaware bankruptcy judge gave Ormet Corp. the approval on Tuesday to sell mineral rights on the site of its aluminum smelting facility in a $22 million private sale to Triad Hunter LLC after a rival suitor didn't make an offer despite saying that it would on Monday.

  5. June 30, 2014

    Bankrupt Ormet Fails To Win OK For $47M In Asset Sales

    A Delaware bankruptcy judge on Monday would not approve Ormet Corp.'s $25 million sale of a shuttered aluminum plant or a $22 million transaction for the site's mineral rights, citing concerns about waived pension liability for the former and a rival suitor for the latter.

  6. June 27, 2014

    Bankrupt Ormet Lands $25M Buyer For Aluminum Plant

    Bankrupt Ormet Corp. on Friday announced a $25.25 million deal to sell its shuttered aluminum plant to property developer Niagara Worldwide LLC, the end result of an auction that boosted the original price tag by $10 million.

  7. June 10, 2014

    Bankrupt Ormet Seeks Auction For Ohio Plant With $15M Bid

    Ormet Corp. on Monday sought court approval to hold an auction to sell its Ohio smelter with an offer to purchase the plant for $15.2 million in its pocket, according to court documents.

  8. November 07, 2013

    Bankrupt Ormet Gets Nod For $39M Plant Sale

    A Delaware bankruptcy judge on Thursday blessed Ormet Corp.'s $39.4 million sale of its Louisiana refinery to Almatis Inc. after allowing the troubled aluminum company to continue winding down in Chapter 11 under an interim operating budget.

  9. October 31, 2013

    Bankrupt Ormet Lines Up Extra $10M DIP To Fund Wind Down

    Aluminum smelter Ormet Corp. asked a Delaware bankruptcy judge Wednesday to approve an additional $10 million of debtor-in-possession financing designed to fund the company's wind down, which includes a $39.4 million sale of its Louisiana refinery.

  10. October 25, 2013

    US Trustee Wants Ormet Bankruptcy Converted To Ch. 7

    The U.S. trustee's office on Friday blasted aluminum smelter Ormet Corp.'s move to wind down operations in the wake of a failed going-concern sale as unfunded and undefined, and urged a Delaware bankruptcy judge to convert the case to Chapter 7.

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