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IN RE QUALITECH STEEL CORP.

No. 01-3055.

276 F.3d 245 (2001)

In the Matter of: QUALITECH STEEL CORPORATION, Debtor. Appeal of: Official Committee of Unsecured Creditors.

United States Court of Appeals, Seventh Circuit.

Decided December 21, 2001.

Attorney(s) appearing for the Case

Michael Yetnikoff (argued), David F. Heroy, Bell, Boyd & Lloyd, Chicago, IL, for Appellant.

Andrew P. Brozman (argued), Jennifer C. DeMarco, Chadbourne & Parke, New York, NY, for Appellee.

William I. Kohn, Barnes & Thornburg, Chicago, IL, for Debtors.

Before BAUER, POSNER, and EASTERBROOK, Circuit Judges.

EASTERBROOK, Circuit Judge.

Qualitech Steel Corporation had a short, unhappy, and expensive life. Formed in 1996 to exploit new technologies for producing specialty steels, Qualitech spent more than $400 million building two plants. Both took longer to build than expected, were more costly to construct and operate than expected, and generally performed below expectations. By March 1999, when it entered bankruptcy, Qualitech had not reached full scale and was losing...

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