AES Settles Waste Suit With Dominican Republic

Law360, New York (March 1, 2007, 12:00 AM EST) -- Energy giant AES Corp. will pay $6 million to settle a lawsuit in which the Dominican Republic accused the company of illegally dumping industrial waste that destroyed beaches and sickened citizens.

The Dominican Republic agreed to dismiss the lawsuit and represent that AES committed no wrongdoing, according to Susan Burke, an attorney for the Dominican Republic.

The parties reached the settlement and filed a joint stipulation to dismiss the case on Wednesday. The country had been seeking $80 million in the case, which was set to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.