In re U.S. Steel Canada Inc.
U.S. Steel Canada Inc. (USSC), a Canadian subsidiary of U.S. Steel Corporation, initiated a Chapter 15 case in the U.S. Bankruptcy Court on June 2, 2017. The primary objective was to obtain recognition of its Canadian CCAA proceeding as a foreign main proceeding and to enforce the Sanction Order and the associated reorganization plan approved by the Canadian Court. No objections were raised to the requested relief. Following a hearing on June 29, 2017, the Court granted all requests, recognizing the CCAA proceeding and enforcing the Sanction Order and Plan. The Court's decision was based on USSC meeting Chapter 15 eligibility requirements, including having property in the U.S., and confirmed that the CCAA proceeding was a foreign main proceeding with USSC's center of main interests (COMI) in Canada.