OTTAWA, July 26 /CNW/ - The Federal Court of Appeal has ruled that the case against U.S. Steel brought by the Federal Government over broken promises made under the Investment Canada Act by U.S. Steel is to proceed without delay.
The Appeal Court found that the case presented by U.S. Steel was based on "opinion and argument" rather than evidence.
In finding in favour of the crown, the Federal Court of Appeal referred to the role and purpose of the Investment Canada Act (including encouraging employment opportunities for Canadians) as a "valid public purpose."
"This ruling stands up for the principles for which the Investment Canada Act was created: the economic and social benefit of Canadians and Canadian communities in any foreign ownership of our natural resources and industries," said Ken Neumann, United Steelworkers (USW) National Director for Canada.
Paula Turtle, USW's Senior Legal Counsel emphasized, "this is an important day in the process of making companies like U.S. Steel live up to their promises and provide a "net benefit" to Canada, Canadians and our communities."
"The federal court's decision not to stay the proceeding of this important case underscores the law's role in upholding important public policy, and the urgency of these matters to Canadian workers and communities," noted Neumann.
SOURCE United Steelworkers (USW)
For further information: For further information: Ken Neumann, 416-544-5950; Paula Turtle, 416-544-5980, 647-385-5980, email@example.com; Bob Gallagher, Communications 416-544-5966, 416-434-2221, firstname.lastname@example.org