Renco Unit, Steelmaker Fight Over $14M Owed To Joint Venture

Law360, New York (April 10, 2012, 7:05 PM EDT) -- A Renco Group Inc. unit sought Tuesday to toss a lawsuit by affiliates of steelmaker OAO Severstal, from which it bought three steel mills, that seeks a $13.5 million payment to a coke supplier they jointly own, calling the sale agreement suit premature.

The dispute, in New York state court, arose from a $1.2 billion deal in March 2011, when Severstal agreed to sell the mills to Renco's newly created RG Steel. Part of that agreement included the division of amounts Severstal and RG Steel each...
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