Cronimet files suit vs. Keywell Metals

May 15, 2014 | 05:54 PM | Rey Mashayekhi

Tags  scrap processor, lawsuit, noncompete agreement, Edward J. Newman, John D. Joyce, Keywell, Keywell Metals, Prophet Equity Cronimet

NEW YORK — Cronimet Corp. and two former employees of bankrupt specialty steel scrap processor Keywell LLC are suing Keywell Metals LLC—the new company formed in the wake of the company’s bankruptcy—to halt enforcement of noncompete agreements that prevent the two men from working for Cronimet.

Edward J. Newman and John D. Joyce are being prohibited by Keywell Metals from working for Cronimet through noncompete agreements that they signed in 1997, according to the lawsuit filed May 14 in U.S. District Court in Illinois. ....

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