Steel Mills
June 23, 2014
Severstal & RG Steel Litigation to End
Written by Sandy Williams
Severstal has agreed to pay $30 million to RG Steel in exchange for all of RG Steel Wheeling’s 50 percent interest in Mountain State Carbon LLC (MSC).
The settlement will “release, acquit, and forever discharge” Severstal and RG Steel from any further claims or suits by the other, according to the docket filed in the US Bankruptcy Court for the District of Delaware. The deal will end years of Severstal NA’s legal entanglement with bankrupt RG Steel.
