WITH NO apparent primary or "stalking horse" bidder having been selected by RG Steel officials by the end of the day Monday, it now appears auctions of virtually all of the steel company's now-idled facilities in Ohio, West Virginia and Maryland will commence at 10 a.m. today in the New York offices of Willkie Farr and Gallagher.
Any party interested in being permitted to bid for any part of the RG properties was to have provided the court with completed paperwork and a two percent cash deposit by last Wednesday.
Reports indicated fewer than 20 firms had submitted the documents and the financing deposit.
A hearing on the auction outcomes is expected to be held Aug. 8 in federal bankruptcy court.
Loccisano may be reached at kimfromthetl@gmail.com
