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Chemtura Escapes Claims For Future Cleanup Costs

Law360 (January 13, 2011, 8:01 PM EST) -- A bankruptcy judge has shot down a slew of private claims seeking hundreds of millions of dollars from Chemtura Corp. for future environmental cleanup costs.

Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York on Thursday disallowed certain claims by potentially responsible parties, saying that under bankruptcy law, those who are co-liable with the chemical manufacturer for environmental cleanup cannot seek reimbursement or contribution for contingent claims.

The judge said in his opinion that Chemtura's settlement with the U.S. Environmental...
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