13
Jan
16:52
Essar Steel sues former parent over taconite project
The former Essar Steel Minnesota is suing past parent firm Essar Global for $1 billion over its stalled Nashwauk, Minnesota, taconite project.
Essar Steel, now called Mesabi Metallics, alleges that Essar Global shunted funds allotted for the project to other corporate interests, ultimately driving the company into bankruptcy in July, Kallanish notes.
“These circumstances resulted from a course of conduct in which (Essar Steel Minnesota) was treated as i…
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