GFG Alliance says Belgian court overturns ruling on steel plant

© Reuters. FILE PHOTO: The GFG Alliance flag flies at the completion of a 330 million-pound deal to buy Britain’s last remaining Aluminium smelter in Fort William Lochaber Scotland, Britain December 19, 2016. REUTERS/Russell Cheyne

LONDON (Reuters) – A Belgian court on Thursday ruled in favour of the GFG Alliance owned by commodities tycoon Sanjeev Gupta regarding its Liege steel operations, GFG said in a statement.

A commercial court in Belgium last month ruled that administrators should be appointed to GFG’s Liberty Steel operations in Liege due to negative equity, but that decision was overruled on appeal, GFG said.


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