Judge approves RG Steel retention plan

Published November 20, 2012 9:55pm ET



WILMINGTON, Del. (AP) — A Delaware bankruptcy judge on Tuesday approved a request by failed steelmaker RG Steel to pay $767,000 under a retention program to keep about 20 key employees on the job through the end of the year as the company finishes liquidating its assets.

Judge Kevin Carey approved the retention plan following a hearing Tuesday, overruling an objection by United Steelworkers union attorneys, who said the payments were unjustified and amounted to a gift for employees who will soon be out of jobs anyway.

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.