EXHIBIT 5.2
Published on
Exhibit 5.2
[Letterhead of Andre
D. Dorval]
January 22, 2007
Yarde
Metals, Inc.
45 Newell Street
Southington, CT 06489
45 Newell Street
Southington, CT 06489
| Re: |
Yarde
Metals, Inc. Registration Statement on Form S-4 |
Dear
Sir/Madam:
As special counsel to Yarde Metals, Inc., a Connecticut
corporation (“Connecticut Guarantor”) I have been
requested to render this opinion in connection with the
Registration Statement on
Form S-4
(File
No. 333-139790),
which was filed with the Securities and Exchange Commission (the
“SEC”) on January 3, 2007, under the Security Act
of 1933, as amended (the “Securities Act”), by the
Connecticut Guarantor, Reliance Steel & Aluminum Co., a
California corporation and an affiliate of the Connecticut
Guarantor (“Reliance” or “Issuer”), and
certain other affiliates of the Connecticut Guarantor listed
therein (the Non-Connecticut Guarantors” and, together with
the Connecticut Guarantor, the “Guarantors”), and
Amendment No. 1 thereto, to be filed with the SEC, under
the Securities Act by the Issuer and the Guarantors (such
registration statement, as so amended, the “Registration
Statement”).
The Registration Statement relates to the proposed offer of the
Issuer to exchange (the “Exchange Offer”) up to
$350,000,000 aggregate principal amount of new 6.200% Senior
Notes due 2016 and $250,000,000 aggregate principal amount of
new 6.850% Senior Notes due 2036 (collectively, the “New
Notes”) for any and all outstanding 6.200% Senior Notes due
2016 and 6.850% Senior Notes due 2036 (the “Old
Notes”) in each case issued in a private offering by the
Issuer on November 16, 2006, which have certain transfer
restrictions. (The Old Notes and the New Notes are sometime
hereinafter collectively referred to as the “Notes”).
The Indenture for the Notes dated as of November 20, 2006
(the “Indenture”), among the Issuer, the Guarantors
Yarde
Metals, Inc.
January 22, 2007
Page two
---------
and Wells Fargo Bank, National Association, as trustee (the
“Trustee”) provides for the guarantee of the New Notes
by (i) the Connecticut Guarantor to the extent set forth in
the Indenture (the “Connecticut Guarantees”) and
(ii) the Non-Connecticut Guarantor to the extent set forth
in the Indenture (the “Non-Connecticut Guarantees”
and, together with the Connecticut Guarantees, the
“Guarantees”).
For purposes of this opinion I have examined:
| 1. | The Registration Statement; |
| 2. | The Certificate of Incorporation of Yarde Metals, Inc. dated November 4, 1977 as subsequently amended Certified by the Secretary of Yarde Metals, Inc.; |
| 3. | The Resolutions adopted on November 6, 2006 by the Board of Directors of Yarde Metals, Inc. certified by the Secretary of the Connecticut Guarantor; |
| 4. | An executed copy of the Indenture; |
| 5. | An executed copy of the Registration Rights Agreement related to the Notes, Dated November 20, 2006, by and among the Issuer, the Guarantors, and Citigroup Global Markets, Inc. and J.P. Morgan Securities, Inc.; |
| 6. | The forms of the New Notes; and |
| 7. | Such other documents as I deem necessary for the purpose of rendering this opinion. |
With respect to the foregoing documents, I have assumed the
genuineness of all signatures, the authenticity of all documents
submitted to me as originals and the conformity to originals of
all documents submitted by me as certified or reproduced copies.
Yarde Metals, Inc.
January 22, 2007
Page three
- - - - - - - - - -
January 22, 2007
Page three
- - - - - - - - - -
As special counsel to the Connecticut Guarantor, I am not
necessarily familiar with all of the Connecticut
Guarantor’s affairs.
Based on the foregoing, I am of the opinion that the Connecticut
Guarantees have been duly authorized and, assuming due
execution, authentication and delivery in accordance with the
provisions of the Indenture and the Exchange Offer, the
Connecticut Guarantees will constitute valid and binding
obligations of the Connecticut Guarantor enforceable in
accordance with their terms. In expressing the opinion set forth
in this letter, I have assumed that the form of the New Notes
and the Connecticut Guarantees will conform to those included in
the Indenture.
My opinion set forth in this letter is subject to the effect of
(i) bankruptcy, insolvency, reorganization, arrangement,
moratorium, fraudulent conveyance or other similar laws relating
to or affecting the rights of creditors generally, and
(ii) limitation imposed by general principles of equity,
regardless of whether the relevant matter is considered in
proceedings at law or in equity, including, with respect to
certain covenants and provisions of the Indenture, where the
Trustee’s enforcement of such covenants or provisions under
the circumstances or, in the specified manner, would violate a
credit’s or secured party’s implied covenant of good
faith and fair dealing.
I am a member of the Bar of the State of Connecticut and do not
hold myself out as being an expert on laws other than the laws
of the United States of America and the laws of the State of
Connecticut.
This opinion is limited to the facts, circumstances and matters
set forth herein and to laws currently in effect. No opinion may
be inferred or is implied beyond matters expressly set forth
herein, and I do not undertake and assume no obligations to
update or supplement this opinion to reflect any facts or
circumstances which may hereinafter come to our attention or any
change in law which may hereafter occur.
This opinion is furnished for your benefits and the benefit of
the holders of the New Notes referred to in the Registration
Statement and may not be used or relied upon by any other person
or entity or in connection with any other transaction without my
prior written consent.
Yarde Metals, Inc.
January 22, 2007
Page four
– – – – – –
January 22, 2007
Page four
– – – – – –
I hereby consent to the reference to my firm under the heading
“Validity of New Notes” in the Registration Statement and
in the related prospectus and to the filing of this opinion as an
exhibit to the Registration Statement.
Very truly yours,
/s/ Andre D. Dorval
ANDRE D. DORVAL
/s/ Andre D. Dorval
ANDRE D. DORVAL