Kodak Agrees To Pay $52M For 3 NY, NJ Site Cleanups

Law360, New York (March 12, 2014, 10:06 PM EDT) -- Eastman Kodak Co. reached two settlements Wednesday with the U.S. Department of Justice in New York bankruptcy court calling for the former photography icon to create environmental cleanup trusts totalling about $51.75 million for three superfund sites in New York and New Jersey.

The first settlement requires Kodak to place $49 million in a trust for the U.S. Environmental Protection Agency to address contamination at the Eastman Business Park in Rochester, N.Y., which Kodak made its primary photographic product manufacturing facility in 1981. The New York...
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