December 11, 2019
Renco Group Inc. should have to cough up $17.8 million that a trial court said it owes in a suit over pension withdrawal liability now, rather than waiting for the end of appeals of a decision that left Renco on the hook for nearly $100 million, the Steelworkers Pension Trust has told a Pennsylvania federal court.
December 05, 2019
A Pittsburgh federal magistrate judge paused a demand that Renco Group Inc. pay the Steelworkers Pension Trust $17.8 million in fees, costs, penalties and interest Thursday after Renco complained that the trust was demanding payment despite both sides appealing the court's award.
October 25, 2019
Renco Group Inc. said Friday that it will ask the Third Circuit Court of Appeals to review a ruling that the company owed nearly $79 million to the Steelworkers Pension Trust because an arbitrator found a deal to sell three steel mills was structured so the company could duck its pension withdrawal liabilities.
September 30, 2019
Renco Group Inc. owed the Steelworkers Pension Trust a total of $96.5 million in pension liabilities, interest, penalties and attorney fees after an arbitrator found that a transaction to temporarily bail out three steel mills was structured so the company could duck its pension withdrawal liabilities, a Pennsylvania federal judge said in a pair of rulings on related cases Monday.
February 28, 2019
The Steelworkers Pension Trust is seeking to make a Renco Group Inc. unit pay a total of $89 million, including double interest plus attorneys fees, as a penalty for its withdrawal from the multiemployer defined benefit pension plan.
December 06, 2018
A Pennsylvania federal judge has refused to toss a Steelworkers Pension Trust suit over an alleged $114 million liability stemming from a Renco Group Inc. unit's withdrawal from the multiemployer defined benefit pension plan.