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Noranda Aluminum Holding Emergency Motion Denied

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According to the U.S. Bankruptcy Court docket, the Court issued an order denying Sherwin Alumina Company’s second emergency motion for coordination of the Noranda Aluminum Holding proceeding among the U.S. Bankruptcy Courts for the Southern District of Texas and the Eastern District of Missouri.

As previously reported, “[I]n any circumstance, the absence of an interim agreement, and the nominating of additional shipments no later than April 5, means the end of Sherwin….In an effort to avoid the loss of thousands of jobs and continue to give the Mediation a chance at success, Sherwin respectfully requests that the Texas Bankruptcy Court enter an order directing NBL to deliver two bauxite shipments to Sherwin no later than April 30, at a price equal to NBL’s variable cost plus 10 percent, all as determined by the Texas Bankruptcy Court on an interim basis at an emergency hearing on or before March 31. Sherwin agrees that it will immediately pay to NBL 50 percent of the price determined by the Texas Bankruptcy Court via wire transfer, and will pay the remaining balance immediately upon delivery in Texas.”

Read more Noranda bankruptcy news.

The post Noranda Aluminum Holding Emergency Motion Denied appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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