Lakeside Steel Vies For Barzel's Assets

Law360, New York (September 22, 2009, 4:39 PM EDT) -- Challenging a stalking horse bidder’s $65 million offer for Barzel Industries Inc., Lakeside Steel Inc. has announced its interest in the bankrupt metal processing company.

Barzel entered Chapter 11 protection last week with an agreement to sell its assets to Chriscott USA Inc., but the plot thickened Tuesday as Lakeside announced it also will be vying for the debtor’s assets at auction on October 6.

In order for Lakeside to unseat the stalking horse bid, the suitor will have to pay at least $500,000 more than...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.