RG Steel Creditors Relaunch Plan To Tackle Renco Chief

Law360, Wilmington (February 25, 2013, 3:54 PM EST) -- RG Steel LLC’s unsecured creditors renewed their bid Friday to sue Ira Rennert — the billionaire owner and chairman of Renco Group Inc., the defunct steelmaker’s parent — and expanded the proposed lawsuit to target RG Steel’s chief executive as well.

In a motion filed in Delaware bankruptcy court, the official committee of unsecured creditors asked for standing to file a complaint against Rennert and CEO Vincent J. Goodwin for allegedly breaching their fiduciary duties to the steelmaker as it descended into bankruptcy, claiming the suit...
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