Asset Sales

All inquiries regarding Sales of assets should be directed to The Blackstone Group.  Contact Raffiq A. Nathoo (212) 583-5869


     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 authroizing 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 common stock were worthless because the value exprected to be generated by the sale of assets would be insufficient to provide a recovery for common shareholders in the reorganization process.

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