Details on U.S. Steel ruling expected today

The judge overseeing U.S. Steel Canada’s restructuring is set to release today the detailed reasoning behind his decision late Friday to allow the company to cut off benefits to pensioners and suspend making certain payments, including millions in property taxes owed to the city of Hamilton and Haldimand County.

The company had argued that it couldn’t make the payments and stay in business after its American parent decided to move significant production to its U.S. mills.

The judge also approved a plan to completely sever the former Stelco operations in Hamilton and Nanticoke from U.S. Steel.