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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.