Algoma getting closer to emerge from CCAA

It appears Algoma is taking its final steps to emerge from bankruptcy protection.
Court appointed monitor Brian Denega, in his Oct. 15 report, shows that Algoma is in the process of assigning the rights and obligations of Algoma and Algoma USA to the new company set to purchase the company.
The 10-page update to the court states that Algoma in the process of transferring its operating contracts between the former company and the new company and that most of its suppliers and service providers ha