Bankrupt RG Steel Secures $4.4M Bid For W.Va. Plant

Law360, Wilmington (November 5, 2012, 8:49 PM EST) -- RG Steel LLC has received a $4.4 million offer for its facility in Wellsburg, W.Va., one of the defunct steelmaker's last remaining assets, according to a motion filed Friday in Delaware bankruptcy court.

The company asked U.S. Bankruptcy Judge Kevin J. Carey to approve the sale of the RG Steel’s Beech Bottom Plant and surrounding 617 acres of land to State Route 2 LLC, which was forced to increase its initial $2.1 million bid after several competing offers emerged.

“As the debtors have wound down their...
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