RG Steel exclusivity extended to allow asset monetization, recovery

By Caroline Salls

Pittsburgh, April 22 - RG Steel, LLC obtained a 90-day extension of its exclusive periods for filing a Chapter 11 plan and for soliciting votes on that plan, according to an April 22 filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the exclusive period for filing a Chapter 11 plan was extended through July 25 from April 26. The exclusive period for soliciting votes was extended through Sept. 23 from June 25.

The company said it needs the additional time to complete its asset monetization and recovery efforts.

RG Steel, a Sparrows Point, Md., flat-rolled steel processor, filed for bankruptcy on May 31, 2012. Its Chapter 11 case number is 12-11661.

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