Thursday, March 28, 2024

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Steelworkers’ union looking to unseal secret U.S. Steel deal

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Steelworkers are back in court today, arguing that a judge was wrong to rule he couldn’t order the release of the secret 2011 deal that ended a federal lawsuit against U.S. Steel, for not meeting commitments it made when it bought Stelco.

Lawyers for both active and retired workers as well as the city of Hamilton say knowing the details of that deal is critical to the current restructuring of the Canadian plants in Hamilton and Nanticoke. The American parent claims it’s owed the vast majority of the debt that caused U.S. Steel Canada to seek creditor protection more than a year ago.

A separate hearing tomorrow will discuss a date to confirm whether U.S. Steel is owed more than $2.2 billion by the Canadian operations.

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