A large part of whatever future the former Hamilton Stelco plants have will be decided in a Toronto courtroom starting Jan. 14.
That’s when a six-day trial starts to decide if U.S. Steel’s claims for $2.2 billion in debts from its troubled Canadian arm are valid. If the Pittsburgh-based company wins that point, it will have enormous power to shape whatever plan is hammered out to restructure the company.
With that power, workers, pensioners, the city and even the provincial government fear the final settlement will leave them with all the costs while the American parent company reaps all the benefits. That’s despite company assurances all stakeholders will be involved in the restructuring.