Chemtura Settles Carbon Black Co.'s $20M Indemnity Claim

Law360, New York (November 21, 2011, 5:17 PM EST) -- Chemtura Corp. has agreed to pay $305,000 to settle indemnity claims stemming from a $20.7 million pollution verdict against Continental Carbon Co., which bought a carbon black plant from Chemtura in 1995, according to a stipulation filed Friday in Chemtura's bankruptcy proceeding.

Continental and its parent China Synthetic Rubber Corp. had filed identical claims seeking indemnity for the verdict and other costs associated with the pollution case. After settlement talks on Nov. 4, Chemtura agreed to pay $305,000 to Continental to settle both claims.

The unsecured...
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