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.
April 16, 2019
The Steelworkers Pension Trust has defended a $78.7 million arbitration award stemming from a Renco Group Inc. unit's withdrawal from the multiemployer pension plan, saying Monday that Renco's challenge fails because it can't identify any actual mistakes in the arbitrator's logic.