RG Steel Goes After $100M In Flurry Of Clawback Suits

Law360, Wilmington (January 8, 2013, 12:00 AM EST) -- The remnants of RG Steel LLC on Monday began unleashing hundreds of lawsuits aimed at clawing back more than $100 million in alleged preferential payments made to creditors immediately prior to the defunct steelmaker’s bankruptcy filing.

By Tuesday, the estate of RG Steel Sparrows Point LLC — which operated the steelmaker’s largest mill in Baltimore before it was sold for scrap in bankruptcy — had filed nearly 300 of the so-called preference actions in Delaware bankruptcy court.

The lawsuits target hundreds of suppliers and other trade...
To view the full article, register now.




Case Information

Case Title

WP Steel Venture LLC

Case Number




Nature of Suit

Date Filed

May 31, 2012

Law Firms


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.