YPF Agrees To Pay $65M In NJ River Pollution Case

Law360, New York (June 10, 2013, 3:48 PM EDT) -- Argentine oil and gas company YPF SA said Monday that its board of directors has approved a proposed $65 million cash settlement to resolve a yearslong dispute with New Jersey environmental officials over pollution cleanup in the Passaic River.

In a letter sent to the Buenos Aires Stock Exchange on Friday, YPF said that under the proposed $65 million deal, New Jersey would drop its environmental claims against YPF in a 2005 suit the state Department of Environmental Protection launched against companies linked to dumping hazardous...
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