Wells Fargo denies RG creditors’ claims
Apr 01, 2013 | 05:24 PM
NEW YORK Wells Fargo Capital Finance LLC has denied claims from creditors of RG Steel LLC that the bank acted improperly before the steelmakers bankruptcy because of its relationship with a Renco Group Inc. executive.
The Santa Monica, Calif.-based bank called the accusations "baseless," telling the U.S. Bankruptcy Court in Delaware that it only acted as an agent to the cash collateral when dealing with Ira Rennert, chairman and chief executive officer of New York-based Renco. ....
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