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RG Steel creditors drop Renco claim

Keywords: Tags  RG Steel, Renco, creditors, Ira Rennert, bankruptcy court


NEW YORK — The creditors of bankrupt steelmaker RG Steel LLC have withdrawn a challenge seeking $238 million from Renco Group Inc. and its top executive, according to a filing in U.S. Bankruptcy Court in Delaware.

The creditors had filed a lawsuit last month claiming that RG Steel’s parent company and its chairman and chief executive officer, Ira Rennert, delayed the steelmaker’s Chapter 11 filing to benefit themselves ( amm.com, Jan. 18).

The notice of withdrawal, filed without prejudice, is a procedural motion, which means the creditors can refile at any time.

An attorney representing the creditors declined to comment.


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