11
Nov
17:04
Judge rejects Boomerang bankruptcy plan
A federal bankruptcy judge has rejected energy tube producer Boomerang Tube’s bankruptcy restructuring plan, according to document filed with a bankruptcy court in Delaware.
The judge ruled that Chesterfield, Missouri-based Boomerang Tube undervalued itself in its restructuring plan in a bid to reduce its debts, Kallanish understands. Boomerang owes more than $37 million to its creditors.
The company filed for Chapter 11 bankruptcy protection in June in…
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Anonymous
Very good overview of the weekly steel market.
Anonymous