The LTV Corporation, along with 48 subsidiaries, filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code on December 29, 2000. The cases were filed in the U.S. Bankruptcy Court, Northern District of Ohio, Eastern Division and jointly administered as Case No. 00-43866.
On December 7, 2001, the U.S. Bankruptcy Court issued an order authorizing the implementation of an Asset Protection Plan (“APP”). The APP includes the shutdown and sale of all integrated steel assets. The Plan also provides for the continued operation and sale of Copperweld and LTV’s tubular products business.
On December 18, 2001, the LTV Corporation declared that it was the opinion of the Company that shares of its common stock were worthless because the value expected to be generated by the sale of assets would be insufficient to provide a recovery for common shareholders in the reorganization process.
This website is intended to provide information to the Company’s former employees, retirees, creditors and customers during the implementation of the Asset Protection Plan. Nothing published in this website is intended in any way to promote the Company, its common stock or any of its securities.
Stainless steel is a major commodity and if you need more information, read about how Nickel increases its strength at the USGS. If you need stainless steel sheets metal, head on over to Commerce Metals. A great example of stainless usage is the The arch in St. Louis, which features 1/4″, type 304 stainless steel, and you can get more information at the National Park Service.