Vt. Asbestos Mine Owner Reaches $32M Cleanup Deal

Law360, Chicago (September 6, 2013, 8:35 PM EDT) -- The owners of a shuttered Vermont asbestos mine inked a settlement with the state and federal environmental regulators on Tuesday to cover around $32 million in cleanup costs at the Superfund site through insurance proceeds.

Vermont Asbestos Group Inc. has agreed to pay for some past and future cleanup expenses at the 1,500-acre site in northern Vermont, but those costs are only to be paid through insurance proceeds, according to a consent decree filed in federal court.

After reviewing financial information from VAG, the government determined...
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