Wednesday, February 11, 2004
No response from Slater: United Steelworkers to file motion in court to slow Slater liquidation: "'We are seeking an extension of the timeframe so that [...the purchasers...] have an opportunity to pursue the purchase of the plant as a going concern,' Kelly said. 'It has been six days since our letter and the company has not deemed it important enough to respond to the union and advise us of its position on our request.
Kelly said the union would prefer to have the matter resolved without the assistance of the courts, but in a letter added, 'we feel we have no option but to bring it to the court's attention.
'I urge you to consider our request and to extend the timeframe for the planned liquidation, and that you do it right away.
'Continuing on a course of liquidation when a purchaser has stepped forward and has stated an interest in the operations as a going concern, is not only heartless for those people who depend on it for their livelihood, but is not a sound business decision.
'An extension of 30 to 60 days is surely not that much to ask for in the circumstances.'
Steelworkers' Hamilton Area Coordinator Tony DePaulo added, 'I cannot understand why the company and its advisers would not welcome an offer to purchase the plant and work out a way to bring it out of bankruptcy protection as a going concern.'"
Kelly said the union would prefer to have the matter resolved without the assistance of the courts, but in a letter added, 'we feel we have no option but to bring it to the court's attention.
'I urge you to consider our request and to extend the timeframe for the planned liquidation, and that you do it right away.
'Continuing on a course of liquidation when a purchaser has stepped forward and has stated an interest in the operations as a going concern, is not only heartless for those people who depend on it for their livelihood, but is not a sound business decision.
'An extension of 30 to 60 days is surely not that much to ask for in the circumstances.'
Steelworkers' Hamilton Area Coordinator Tony DePaulo added, 'I cannot understand why the company and its advisers would not welcome an offer to purchase the plant and work out a way to bring it out of bankruptcy protection as a going concern.'"
