WHEELING - A Wheeling law firm will be doing work associated with Herman Strauss Co.'s $15 million bid for a 112-acre parcel bankrupt RG Steel is selling in Steubenville.
Schrader Byrd & Companion will be paid a flat $15,000 fee at closing for services related to the transaction, according to papers filed with U.S. Bankruptcy Court in Delaware.
Strauss Co. and River Rail Development tendered its offer to buy shortly after RG Steel's May 31 bankruptcy filing.
Officials with Strauss Co. have said they want to use the property, which includes the buildings, equipment and scrap metals stored there as well as the site itself, to expand business opportunities.
Local development leaders, however, are hoping to persuade Strauss to redevelop and market parts of the 112-acre property that they won't be using for recycling operations.
RG Steel, plagued by liquidity problems, sought Chapter 11 protection from creditors just over a month ago. The company, a subsidiary of the Renco Group, has until mid-August to sell its plants in Maryland, Ohio and West Virginia.