Ford, Severstal Secure $4M From US In Superfund Settlement

Law360, New York (October 10, 2012, 4:07 PM EDT) -- A Michigan federal judge on Tuesday entered a consent decree over a nonparty energy company's objection and dismissed all claims in an environmental damage suit against the U.S. government, which will pay Ford Motor Co. and steel manufacturer Severstal North America Inc. $4.25 million in remediation costs.

The government agreed to fork over the money to cover its share of cleanup expenses stemming from alleged pollutant releases at a Michigan Superfund site in exchange for Severstal and Ford signing a covenant not to sue and protection...
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