Chemtura To Pay $7M For NJ Cleanups

Law360, New York (January 5, 2011, 7:05 PM EST) -- Chemtura Corp. is seeking court approval of more than $7 million in settlements with the New Jersey Department of Environmental Protection and other entities to resolve environmental disputes surrounding two properties in the state.

The chemical company has agreed to pay more than $5.4 million in allowed environmental claims over a property in Harmony Township, N.J., with $5 million that would be given in cash to a third-party that will assume all clean up responsibilities there, according to a motion Monday in the U.S. Bankruptcy Court...
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