Article: In a move that prolongs the suspense surrounding Liberty Liège's fate, a Belgian court has once again postponed its ruling on the company's bankruptcy. Last month, the same court rejected all three bids submitted for the acquisition of Liberty Liège's assets, leaving the company's future hanging in the balance, as reported by local media.While the possibility of bankruptcy still looms, discussions are ongoing between the local government of the Walloon region and Liberty Steel Galati. There are reports of a potential €20 million ($21.4 million) loan being offered to save the assets. However, this solution has not yet reached a final agreement, leaving the outcome of the company's future uncertain.On the other hand, Liberty Steel is not backing down and has appealed against the recent decisions made by the local court. This includes the rejection of the formal offer presented by Liberty Steel Galati, which aimed to acquire all of Liberty Liège's assets. The company is determined to fight for its interests and secure a favorable outcome.Liberty Steel's assets in Belgium encompass a series of lines dedicated to packaging steel, located in Tilleur, as well as two hot-dip galvanizing lines situated in Flemalle. These units have the capacity to produce up to 1 million tonnes per year of hot-dip galvanized coil and 200,000 tonnes per year of packaging products. Liberty Steel acquired these assets from ArcelorMittal in 2019. However, due to operational challenges, the facilities have not been operating at full capacity for several months.The delayed bankruptcy ruling and the rejection of asset acquisition bids have further intensified the uncertainty surrounding Liberty Liège's future. The ongoing discussions between the local government and Liberty Steel Galati offer a glimmer of hope with the potential loan. Nevertheless, until a definitive resolution is reached, the company's fate hangs in the balance, and stakeholders eagerly await the court's final decision.
Article: In a move that prolongs the suspense surrounding Liberty Liège's fate, a Belgian court has once again postponed its ruling on the company's bankruptcy. Last month, the same court rejected all three bids submitted for the acquisition of Liberty Liège's assets, leaving the company's future hanging in the balance, as reported by local media.While the possibility of bankruptcy still looms, discussions are ongoing between the local government of the Walloon region and Liberty Steel Galati. There are reports of a potential €20 million ($21.4 million) loan being offered to save the assets. However, this solution has not yet reached a final agreement, leaving the outcome of the company's future uncertain.On the other hand, Liberty Steel is not backing down and has appealed against the recent decisions made by the local court. This includes the rejection of the formal offer presented by Liberty Steel Galati, which aimed to acquire all of Liberty Liège's assets. The company is determined to fight for its interests and secure a favorable outcome.Liberty Steel's assets in Belgium encompass a series of lines dedicated to packaging steel, located in Tilleur, as well as two hot-dip galvanizing lines situated in Flemalle. These units have the capacity to produce up to 1 million tonnes per year of hot-dip galvanized coil and 200,000 tonnes per year of packaging products. Liberty Steel acquired these assets from ArcelorMittal in 2019. However, due to operational challenges, the facilities have not been operating at full capacity for several months.The delayed bankruptcy ruling and the rejection of asset acquisition bids have further intensified the uncertainty surrounding Liberty Liège's future. The ongoing discussions between the local government and Liberty Steel Galati offer a glimmer of hope with the potential loan. Nevertheless, until a definitive resolution is reached, the company's fate hangs in the balance, and stakeholders eagerly await the court's final decision.
