Keywell appeals bankruptcy court ruling

Jul 14, 2014 | 12:10 PM | Rey Mashayekhi

Tags  Keywell Metals, Cronimet, Keywell, scrap, processor, Edward J. Newman, John D. Joyce, ELG Metals OmniSource

NEW YORK — Keywell Metals LLC has appealed to the U.S. District Court in Illinois a bankruptcy court dismissal of its claim that two former Keywell LLC executives are contractually prohibited from working for scrap processor Cronimet Corp. by noncompete agreements.

The U.S. Bankruptcy Court in Illinois ruled in favor of Aliquippa, Pa.-based Cronimet and the two executives in May, saying that the noncompete agreements "were not included in the assets purchased by Keywell Metals" in December, when the company paid $15.8 million to acquire the bankrupt processor’s assets (, Dec. 12).....

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