(AMM) Metalico row over PGM buy escalates

New York 19 June 2009 20:40

Metalico Inc.'s chagrin over problems at platinum recycling operations acquired last year in Mississippi and Texas has landed the Cranford, N.J.-based recycler in federal court as a defendant.

The previous owners, companies and trusts affiliated with Allen Hickman Jr., want the rest of the payments they say are due under a $3.86-million note?an unpaid $2.57 million. The note was part of a broader transaction described at the time as worth $28.5 million.

The wrangle became a federal...

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(AMM) Metalico row over PGM buy escalates

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