Justice objects to RG Steel asset sales

Aug 03, 2012 | 03:58 PM | Chris Prentice

Tags  RG Steel, Esmark Steel Group, Frontier Industrial, TCC Steel, Quay Mull II, Joseph N. Gompers, Wheeling Corrugating, Ohio Coatings Martins Ferry

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 LLC’s assets.

The EPA isn’t 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 Steel’s assets is set for Aug. 8, when a federal bankruptcy court judge will finalize pending sales of RG Steel’s assets, including purchasers selected during an auction Tuesday of the steelmaker’s Wheeling, W.Va., assets (amm.com, Aug. 1).....

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