The judge presiding over the bankruptcy of RG Steel LLC is urging the company and its creditors to try to agree on a sale process of the steelmaker's assets.
RG Steel, the nation's fourth-largest flat-rolled steel manufacturer, sought bankruptcy protection last month, citing liquidity issues attributed to low steel prices and high raw material costs.
But unsecured creditors fear the process is being rushed and asked that a Thursday hearing to approve proposed bid procedures be postponed. RG Steel opposed that request.
The judge on Wednesday urged the parties to try to resolve their differences but said he would hold the hearing on Thursday if need be.
RG Steel, creditors urged to agree on sale process
Unsecured creditors ask that hearing be postponed
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