Marcal Settles With EPA For $3M

Law360, New York (July 27, 2007, 12:00 AM EDT) -- Bankrupt paper company Marcal Paper Mills and the U.S. Environmental Protection Agency have reached a $3 million settlement over pollution claims involving the Diamod Alkali Superfund Site.

The U.S. government had originally sought damages of $946 million, resulting from Marcal's alleged pollution of an eight-mile section of the Passaic River in New Jersey.

The terms of the settlement were filed on Thursday. In the company's bankruptcy proceedings, the $3 million settlement will be an allowed general unsecured claim. Of that total, $2.16 million is alloted to...
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