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Auto Salvage Co. Gets OK To Start Paying $26.7M Settlement

Law360, New York (August 11, 2017, 10:06 PM EDT) -- A Pennsylvania federal judge on Thursday ordered an auto salvage company to pay $16.5 million of a $26.7 million settlement it reached with a metals trader over precious metals lease agreements, leaving an amount that matches what one of the salvage company shareholders owes a South African metals refiner in a separate dispute over an arbitral award.

In a brief order, U.S. District Judge Michael M. Baylson granted metals trader Alliance Industries Ltd.'s request for the court to approve the payment agreement to cover the settlement...
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