Nov 9, 2015
RG Steel, the bankrupt former owner of the steel mill at Sparrows Point outside Baltimore, recently agreed to pay most of the water bill it owed Baltimore City – about 5.5 million out of 7.3 million dollars.
However, now this 5.5 million-dollar settlement will go to the bankruptcy court where it is certain that Baltimore will only get pennies on the dollar!
Of course while RG Steel went bankrupt, its owner did not. Ira Rennert could easily pay the whole water bill in a snap. He’s estimated to be worth 5.9 billion dollars.
He should be made to pay the WHOLE bill to the city!