is jenna rennert related to ira rennert

In a rare victory, about 1,350 retirees will be paid in full for pensions that were cut when the Renco subsidiary they worked for . The company later became WCI Steel Inc., and Ira Rennert was able to ultimately sell bonds totaling USD 300 million, paying USD 108 million of the proceeds as a dividend to Renco. [24] La Oroya was and remains a very polluted site. })(); A Division of NBCUniversal. It rejected Rennerts argument that the jury rendered an irrational verdict by awarding damages despite believing MagCorp was solvent at all relevant times. [8] Newspaper reports speculated that the Pension Benefit Guaranty Corporation had threatened to put a lien on Rennert's personal estate in order to ensure the steelworkers' benefits. [21] A 2002 study showed more than half of the children living within a quarter mile of the smelter had high blood-lead levels. Bachelor of Arts/Science, Brooklyn College; Master of Business Administration, Leonard N. Stern School of Business. [1], Rennert is married to Erynne Rivkah Novetsky, and they live in Manhattan with their three sons.[1]. He is confident that the new crop of NIMBYs poking up around Georgica Pond can help bring Rennert down to earth. 'keywords' : '~' , But last month, his business partner and fellow billionaire Ronald O. Perelman sued Rennert over a company in which they both hold stakes. Using junk bonds to finance his acquisitions of companies, often in bankruptcy, he has amassed significant . Today, US Magnesium is the third-largest magnesium producer in the world. })(); Billionaire Ira Rennert has been ordered to pay slightly more than $200 million, roughly the value of his 29-bedroom Hampton's mansion. mps._adsheld = []; 'nid' : '48136349' (Reuters) - A federal appeals court said billionaire Ira Rennert must pay a $213.2 million judgment after a jury found him liable for looting his now-defunct magnesium company to build one of the countrys most expensive homes, a 21-bedroom mansion in New Yorks Hamptons. According to an article in Mother Jones, Rennert often travels to and from Fair Field on a Sikorsky S-92, a helicopter usually used to carry a dozen or more passengers. Lee Buchwald, MagCorps bankruptcy trustee, accused Rennert of diverting money from the now-defunct company to help build his 21-bedroom, 43,000-square-foot mansion known as Fair Field on 65 oceanfront acres in Sagaponack, on Long Island. function getOneTrustCookie() { That ended a lawsuit in which the U.S. Pension Benefit Guaranty Corp accused Renco of trying to evade $70 million of obligations. He was a self-employed stockbroker when the National Association of Securities Dealers yanked his certification in 1964effectively blackballing him from tradingfor repeatedly operating with insufficient capital. As part of the sale to Renco, Centromin agreed to pay to remediate pre-existing (pre-1997) environmental problems and Doe Run Peru agreed to make substantial environmental investments. Find out how this could help you plan your legacy Beginning in 2024, you can convert your childs 529 plan to a Roth IRA. The business mogul, who Forbes says is worth $5.9 billion, was recently in court defending. "),a=0;a

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