Liberty Liège-Dudelange creditor protected, look to continue

Liberty Liège-Dudelange, part of the Liberty Steel Group, has been granted temporary protection from creditors of its Belgian Liège plants and is seeking to identify new sources of financing.

Dudelange and Liège produce galvanized/coated steel, cold-rolled coil and tinplate. S&P Platts reports the granting of court protection follows Liberty Steel Group's request on 27 April to the Liège Enterprise Court for a judicial reorganisation procedure (PRJ) for its Liège plants.

A statement from Liberty Steel Group says, ‘Liberty Liège-Dudelange, which incorporates two plants at Liberty Liège in Belgium and Liberty Dudelange in Luxembourg, has faced a significant reduction in working capital support since the collapse of Greensill Capital which has led to ongoing issues with its main supplier of Hot Rolled Coil (HRC).’

Liberty has claimed there were issues with materials supply, although suppliers deny this.