Algoma’s restructuring deadline has been pushed back once again.
The local steelmaker which first entered into creditor protection in November of 2015 has received court approval for a further extension to the end of September—-that’s an extension from the end of July.
The issue of the Port of Algoma and its dispute with the local steelmaker has gone to mediation.
Sessions took place back in May and the latest report from court monitor Ernst and Young indicates that mediation has been adjourned and may be resumed at the discretion of the monitor.
Meantime Algoma has ceased pursuing an alternative port in accordance with a court order which established the mediation process.
In 2014, Algoma sold its commercial port to Essar Steel subsidiary The Port of Algoma.