Crucible, NYSDEC Reach $1M Accord On CERCLA Claims

Law360, New York (July 8, 2010, 1:00 PM EDT) -- Defunct metals producer Crucible Materials Corp. is seeking approval of a roughly $1.2 million settlement with the New York Department of Environmental Conservation to resolve claims over remedial costs incurred by the state under the Comprehensive Environmental Response, Compensation and Liability Act.

Crucible lodged a motion Wednesday in the U.S. Bankruptcy Court for the District of Delaware calling for a July 26 hearing on the proposed deal, which it argued would ultimately save the company money and avoid risky litigation.

The department's eight primary claims, filed...
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