Severstal says RG didn’t make $13.5M payment

Dec 09, 2011 | 03:32 PM | Lisa Gordon

Tags  steel, RG Steel, Severstal, Mountain State Carbon Lisa Gordon

PITTSBURGH — Severstal U.S. Holdings LLC has once again sued RG Steel LLC over finances associated with RG Steel’s acquisition of Severstal assets.

Severstal alleges that RG Steel has failed to make a $13.5-million payment to Mountain State Carbon LLC, a third-party beneficiary, for a price adjustment from Mountain State’s accounts payable that was on the books before the acquisition, according to the filing made in New York Supreme Court.....

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