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Article: Philip Services Considers Amendments to its Restructuring Plan.
- Article from:
- Business Wire
- Article date:
- August 30, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HAMILTON, Ontario--(BUSINESS WIRE)--Aug. 30, 1999--
Philip Services Corp. (TSE/ME: PHV) today announced that it is considering procedural amendments to its Restructuring Plan which it filed under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware and the Companies' Creditors Arrangement Act ("CCAA") in Toronto.
The Company is responding to the decision of Mr. Justice Blair of the Ontario Superior Court of Justice released on August 27, 1999. The primary issue considered by Mr. Justice Blair was the jurisdiction where claims could be asserted, and not the efficacy of the Company's overall Restructuring Plan. The decision provides that ...