BALTIMORE, Md. (AP) - Bankrupt steelmaker RG Steel is working with creditors to resolve issues surrounding the sales of its steel mill facilities.
Attorneys for various creditors told a Delaware bankruptcy judge during a telephone hearing Wednesday that substantial progress has been made on resolving the issues.
Creditors for the most part are trying to preserve their property and access rights to material they own at the Sparrows Point mill near Baltimore.
The judge earlier this month approved the $72 million purchase of the Sparrows Point steel mill to Hilco Industrial, a company that specializes in industrial liquidations.
RG Steel, the nation's fourth-largest flat-rolled steel manufacturer, sought bankruptcy protection in late May, citing financial struggles with low steel prices and high raw material costs.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
SPECIAL REPORT | Thousands of child care center inspections reports are NOW AVAILABLE. Find out what inspectors founds inside day care centers across the state.
SPECIAL REPORT | When it's out of your hands, when your life is at the mercy of an armed, masked man staring down at you from the barrel of a gun in your own home, you grasp at whatever it is you can control; breathing, composure, or faith.
SPECIAL REPORT | ABC2 Investigator Joce Sterman has reviewed thousands of pages of documents for her Bad Medicine report.