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Representative Mandates

United States Steel

It is a contentious three-way battle among (i) the parent, USS, which has invested $4 billion in the Canadian subsidiary USSC ($2 billion by way of debt and $2 billion of equity) for zero return pitted against (ii) a strong and organized union acting on behalf of employees and pensioners and (iii) the Province of Ontario which is potentially exposed pursuant to a large pension benefit guarantee fund claim in the event of a wind-up of the pensions.

After a failed sales process and a failed mediation, USS achieved court approval of a Transition Services Arrangements (“TSA”) pursuant to which USS will continue to provide certain services to USSC as USSC is de-integrated from the USS family to become an independent operator.



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Thornton Grout Finnigan LLP, Suite 3200, 100 Wellington Street West, P.O. Box 329, Toronto-Dominion Centre, Toronto, ON M5K 1K7 Canada T 416.304.1616 E

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