RG Steel Wins Arbitration Order In $125M Severstal Dispute

Law360, New York (May 25, 2012, 6:34 PM EDT) -- A New York federal judge on Friday granted RG Steel LLC's motion to compel arbitration in a dispute brought by Severstal U.S. Holdings over a purchase agreement for three affiliated steel companies after RG's price adjustments reduced the deal amount from $125 million to $1.9 million.

Severstal had claimed that certain contested adjustments to the purchase price were not arbitrable pursuant to the parties' stock purchase agreement because RG had not used the same calculation methods Severstal had used in its most recent balance sheet....
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Case Title

Severstal US Holdings et al v. RG Steel, LLC


Case Number

1:11-cv-06922

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Robert W. Sweet

Date Filed

October 3, 2011

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