Capeco To Pay $8.2M For Blast Site Cleanup

Law360, New York (May 23, 2011, 12:31 PM EDT) -- Caribbean Petroleum Corp. has agreed to pay $8.2 million to reimburse the government for the cleanup of a catastrophic 2009 fuel depot explosion that crippled the company's operations and drove it to bankruptcy, the U.S. Department of Justice announced Friday.

The money will cover costs incurred by the U.S. Environmental Protection Agency and the U.S. Coast Guard while cleaning up the blast site in Bayamon, Puerto Rico. The settlement also resolves penalties for violations of the Clean Water Act and the Resource Conservation and Recovery Act....
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