RG Steel Sets Framework For $100M In Clawback Suits

Law360, Wilmington (March 7, 2013, 11:30 PM EST) -- Bankrupt RG Steel LLC and creditors hammered out a mediation framework in Delaware bankruptcy court Thursday designed to handle the hundreds of suits launched by the defunct steelmaker in an attempt to claw back more than $100 million in alleged preferential payments.

Companies targeted by the more than 600 adversary complaints launched by RG Steel since January had responded with a host of objections to the proposed mediation process, including the steelmaker's plan to have creditors split the costs.

U.S. Bankruptcy Judge Kevin J. Carey said...
To view the full article, register now.

Related

Sections

Case Information

Case Title

WP Steel Venture LLC


Case Number

1:12-bk-11661

Court

Delaware

Nature of Suit

Date Filed

May 31, 2012

Law Firms

Companies

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.