Kaiser Steel filed a reorganization plan in...

Kaiser Steel filed a reorganization plan in a Colorado bankruptcy court, but details of how the company intends to pay its creditors will not be revealed until a disclosure statement is filed later this month, a company spokesman said. Under the plan, all the assets of Kaiser Steel will be distributed to creditors either in cash after the sale of certain assets or the distribution of stock of the reorganized company, which will be called Kaiser Holdings. The plan provides for the distribution of 30 million shares of Kaiser Holdings stock to retirees, unsecured creditors, existing preferred shareholders and, at the discretion of a new board of directors, to management as incentive stock options.