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The Renco Group, Inc.
RG Steel creditors withdraw request to sue Rennert
RG Steel creditors withdraw request to sue Rennert

Unsecured creditors in the RG Steel bankruptcy case withdrew Friday their request to sue the company's billionaire founder. The Official Committee of Unsecured Creditors had in January asked the U.S. Bankruptcy Court in Wilmington for permission to go after Ira Rennert, alleging that his decisions in the months before RG Steel collapsed were aimed at worsening the company's finances to shore up his own. The committee said it might be able to recover more than $238 million for unpaid vendors and other creditors. But Friday, the committee withdrew the request without explanation — and "without prejudice," meaning that it could try again later. A spokesman for...