23
Jul
11:05
India's Supreme Court halts Essar sale, schedules hearing
India’s Supreme Court has ordered a halt to the sale of Essar Steel to ArcelorMittal after lenders to the bankrupt steelmaker challenged an earlier appeal court ruling, according to Indian press reports. The next hearing is due for 7 August.
The National Company Law Appellate Tribunal (NCLAT)’s earlier ruling, from 4 July, approved the sale but said Essar’s operational creditors have to be treated on a par with financial creditors whe…
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Anonymous
Very good overview of the weekly steel market.
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