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Partnership from New York joins in bid for Warren, Ohio-based steel company.
Knight Ridder/Tribune Business News, August, 2004
By Cynthia Vinarsky, Vindicator, Youngstown, Ohio Knight Ridder/Tribune Business News
Aug. 31--AKRON, Ohio -- Two competing buyers sparring for the right to own WCI Steel of Warren learned that a third contender is waiting to enter the ring.
WCI, with the support of its owner, Renco Group of New York, began a weeklong court battle Monday for ownership, vying against a competing group of secured lenders in U.S. Bankruptcy Court here.
Judge Marilyn Shea-Stonum has cleared her court docket for the week to hear testimony on the competing plans. She is expected make a decision on which plan offers the best alternative for bringing the steelmaker out of Chapter 11 bankruptcy protection as an operating company.
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