RegAlert2002-12-23
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SEC Order Granting Application: Algoma Steel Inc.
The Securities and Exchange Commission conditionally exempts Algoma Steel Inc. from the certificate or opinion delivery requirements of Section 314(d) of the Trust Indenture Act of 1939 for specified dispositions of collateral made in the ordinary course of business. This exemption applies to the indenture dated January 29, 2002, as supplemented, governing the 11% Secured Notes due 2009 and the 1% Convertible Secured Notes due 2030. Algoma Steel must deliver annual audited financial statements and a semi-annual certificate confirming that all collateral dispositions occurred in the ordinary course of business and that proceeds were used as permitted by the indenture.
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Trust Indenture Act - Exemptive Orders
SEC Order Granting Application
Securities and Exchange Commission (File No. 22-28638)
Order Granting Application: Algoma Steel Inc.
December 23, 2002
Algoma Steel Inc. has filed an application under Section 304(d) of the Trust Indenture Act of 1939. In that application, Algoma Steel has asked the Commission to exempt from the certificate or opinion delivery requirements of Section 314(d) of the 1939 Act certain provisions of an indenture dated January 29, 2002, as supplemented by indentures dated January 29, 2002 and September 9, 2002, between Algoma Steel and Wilmington Trust Company. Algoma Steel seeks an exemption to the extent that the indenture allows specified dispositions of, and the related release of the indenture's lien with respect to, certain collateral that are made in Algoma Steel's ordinary course of business. A description of the indenture and the basis for the request is more fully set forth in the application from Algoma Steel dated November 1, 2002. That application is on file in the Commission's Public Reference Section, File No. 22-28638, 450 Fifth Street, NW, Washington, DC 20549.
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