RG Steel gets five-month exclusivity extension to resolve litigation

By Jim Witters

Wilmington, Del., Aug. 15 - RG Steel, LLC received approval for an extension of its exclusive periods for filing a Chapter 11 plan and for soliciting plan acceptances, according to an Aug. 15 filing with the U.S. Bankruptcy Court for the District of Delaware.

The exclusive period for filing a Chapter 11 plan is extended through Dec. 2 from July 25. The exclusive period for soliciting plan votes is extended through Jan. 31 from Sept. 23.

In seeking the extensions, the company said it needs the additional time to contend with litigation and determine an exit strategy.

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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