Asarco Agrees To $1 Sale Of Contaminated NJ Site

Law360, New York (September 21, 2009, 1:31 PM EDT) -- Bankrupt mining firm Asarco LLC has struck a deal with the New Jersey Department of Environmental Protection over a contaminated former zinc production facility, agreeing to hand over the property to the city of Trenton for $1 and a release from all current and future liability concerning the contamination.

Asarco filed a motion asking a judge to approve the settlement Friday in the U.S. Bankruptcy Court for the Southern District of Texas as part of a plan to dispose of the mining giant’s more than $1...
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