24 August 2010 23:22 [Source: ICIS news]
The agency said that Chemtura would make the payment as part of its bankruptcy reorganisation.
The specialty chemicals company and 26 of its affiliates filed for bankruptcy protection in
Earlier this month Chemtura obtained court approval for plans to line up more than $1bn in bankruptcy exit financing.
In a joint statement with the
The agency said that 12 of the locations are on its list of the most serious hazardous waste sites requiring clean-up.
More than $8m of the $26m in clean-up funds would be devoted to remediation work at the Diamond Alkali site in
As part of the agreement with the EPA and the Justice Department, Chemtura disposes of liabilities under multiple federal environmental statutes, including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), commonly known as the Superfund law.
However, the settlement announced on Tuesday did not cover Chemtura’s environmental liabilities at the Gowanus Canal Superfund site, EPA said, noting that resolution of clean-up costs at that facility remain to be negotiated.
($1 = €0.79)
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