United States Lodges Stipulation Settling its Proof of Claim in the WP Steel Venture, LLC Chapter 11 Bankruptcy Matter. On May 16, 2013, the United States and the Debtors Committee in the WP Steel Venture, LLC Chapter 11 bankruptcy proceeding lodged a Stipulation memorializing a settlement between the United States and the Debtors in the Chapter 11 bankruptcy matter filed by W.P. Steel Venture, LLC, et al. on May 31, 2012. This Stipulation resolves the United States? claims based on violations of federal environmental laws by: 1) R.G. Steel Wheeling, LLC; 2) R.G. Steel Warren, LLC; and, 3) RG Steel Sparrows Point, LLC, contained in the Proofs of Claim filed in the bankruptcy proceeding. Specifically, the Stipulation creates a sum certain for the monetary portion of these claims as follows:
R.G. Steel Wheeling, LLC: $15,748,295 civil penalty for Clean Air Act (CAA) and Resource Conservation and Recovery Act (RCRA) violations at its Follansbee, West Virginia, Steubenville, Ohio and Mingo Junction, Ohio facilities;
R.G. Steel Warren, LLC: $4,132,776 civil penalty for CAA violations at its Warren, Ohio facility; and
RG Steel Sparrows Point, LLC: $8,431,38 civil penalty contained in a Consent Agreement and Final Order settling CAA violations at its Sparrows Point, Maryland facility.
By this Stipulation, these claims will be classified as pre-petition unsecured claims. Pre-petition unsecured claims are paid when and if the claims of all other de