Judge Approves Crucible Ch. 11 Liquidation

Law360, New York (August 24, 2010, 7:42 PM EDT) -- A federal bankruptcy judge approved Crucible Materials Corp.’s liquidation plan Tuesday after the defunct metals supplier reached a settlement with the U.S. Department of Justice and environmental regulators over pollution cleanup obligations.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware confirmed an amended plan that creates an environmental trust to handle a Wisconsin Department of Natural Resources claim concerning two former Crucible factory sites in East Troy, Wisc., with severely contaminated groundwater.

The debtors will fund the the Crucible Environmental...
To view the full article, register now.