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NEWS

October 14th, 2016
Curtis Represents Glencore Ltd. and Affiliate in Chapter 11 Cases of Horsehead Holding Corp.

 

Curtis is representing Glencore Ltd. and Glencore Canada Corporation (“Glencore Canada”) in the Chapter 11 cases of Horsehead Holding Corp. (“Horsehead”) in the United States Bankruptcy Court for the District of Delaware before Judge Christopher S. Sontchi.  Horsehead’s operations at seven facilities in the U.S. and Canada include a producer of specialty zinc and zinc-based products; leading recyclers of electric arc furnace dust, and metals-bearing wastes; a zinc oxide producer; and a leading North American processor of nickel-cadmium (NiCd) batteries.

Curtis is advising Glencore Ltd. and Glencore Canada in their capacities as trade creditors of Horsehead.  Glencore Ltd.’s claim appears to be one of the largest unsecured trade claims against the Debtors’ estate.  Glencore Canada has claims which are fully secured by certain materials in the possession of and owned by Glencore Canada.

Curtis successfully negotiated an agreed cure amount for Glencore Canada’s contract with the Debtors prior to confirmation of the Plan.  The contract was assumed by the Reorganized Debtors when they re-emerged as a going-concern on the Plan Effective Date, September 30, 2016.

The Curtis team on this engagement includes Partner Steven J. Reisman and Counsel James V. Drew from the Restructuring and Insolvency Department.

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