Barzel Settles Superfund Bankruptcy Claim

Law360, Washington (August 17, 2011, 6:23 PM EDT) -- Metal processor Barzel Industries Inc. on Tuesday asked a judge in its Chapter 11 proceedings in Delaware to approve a settlement with the U.S. Environmental Protection Agency over contamination at a Rhode Island Superfund site.

In March 2010, the U.S. filed a timely proof of claim in the bankruptcy case on the EPA's behalf, asserting damages of at least $65 million. The agency claimed that Barzel's affiliated debtor American Steel and Aluminum Corp. was liable under the Comprehensive Environmental Response, Compensation and Liability Act for the...
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.