RG Steel Creditors Relaunch Plan To Tackle Renco Chief

Law360, Wilmington (February 25, 2013, 3:54 PM EST) -- RG Steel LLC’s unsecured creditors renewed their bid Friday to sue Ira Rennert — the billionaire owner and chairman of Renco Group Inc., the defunct steelmaker’s parent — and expanded the proposed lawsuit to target RG Steel’s chief executive as well.

In a motion filed in Delaware bankruptcy court, the official committee of unsecured creditors asked for standing to file a complaint against Rennert and CEO Vincent J. Goodwin for allegedly breaching their fiduciary duties to the steelmaker as it descended into bankruptcy, claiming the suit...
To view the full article, register now.