RG Steel Gets Go-Ahead To Sell Md. Mill For $72.5M

Law360, Wilmington (August 15, 2012, 9:40 PM EDT) -- RG Steel LLC received a Delaware bankruptcy judge's blessing on Wednesday to sell its flagship steel mill in Maryland for $72.5 million, but only after appeasing environmental regulators and squashing a last-minute bid.

At a hearing in Wilmington, U.S. Bankruptcy Judge Kevin J. Carey approved the $72.5 million sale of the Sparrows Point mill outside Baltimore to a joint venture between liquidator Hilco Industrial LLC and Environmental Liability Transfer Inc., a real estate developer that specializes in contaminated industrial sites.

The judge also tentatively cleared the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.