Marcal Takes Issue With $1B EPA Claim

Law360, New York (July 2, 2007, 12:00 AM EDT) -- Bankrupt paper company Marcal Paper Mills Inc., which filed its reorganization plan last week, has objected to a nearly $1 billion government claim that could complicate its emergence from Chapter 11.

In court documents filed with the U.S. Bankruptcy Court for the District of New Jersey, Marcal said it would move to expunge a $946 million claim related to the cleanup of an eight-mile section of the Passaic River in New Jersey.

”The claim seeks to impose the entire cost of a future cleanup of the...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.