Law360, New York (October 1, 2010, 5:06 PM EDT) -- The U.S. Environmental Protection Agency's $3.9 million agreement with bankrupt chemical maker Chemtura Corp. is the agency's first cash settlement with a potentially responsible party to the $1 billion cleanup of pervasive environmental contamination at the Gowanus Canal Superfund site in Brooklyn, N.Y.
Preet Bharara, the U.S. Attorney for the Southern District of New York, on Thursday announced the pact, which still awaits approval by the U.S. Bankruptcy Court for the Southern District of New York.
Despite opposition from New York City, which had its own...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.