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...
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