Justice objects to RG Steel asset sales
Aug 03, 2012 | 03:58 PM
| Chris Prentice
NEW YORK The U.S. Department of Justice has filed an objection on behalf of the federal Environmental Protection Agency to the proposed sale of all of RG Steel LLCs assets.
The EPA isnt aware of which assets will be included in a sale hearing set for Aug. 8, let alone the identity of potential bidders or their financial ability to comply with environmental laws, but the United States has the right to object to any sale of contaminated property, the Justice Department said in a limited objection filed in U.S. Bankruptcy Court in Delaware.
A hearing to discuss the sale of RG Steels assets is set for Aug. 8, when a federal bankruptcy court judge will finalize pending sales of RG Steels assets, including purchasers selected during an auction Tuesday of the steelmakers Wheeling, W.Va., assets (amm.com, Aug. 1).....
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