LAWSUITS NEWS & LEGAL INFORMATION
Smelter Contamination
Washington, DC: (Feb-23-08) The state of Washington brought a lawsuit against Asarco LLC, over contamination tied to a former smelter in Everett, WA, a city located on Puget Sound. The suit stated that the smelter was closed in 1912 and demolished in 1915, according to the Washington Department of Ecology. The state claimed that the soil had higher than normal levels of arsenic, lead and other metals. The state's Department of Ecology and the Port of Everett filed claims for future and past cleanup costs and natural resource damages. The claims exceed $135 million, according to court documents.
As part of a settlement reached, Asarco LLC has reached a $38 million deal with the state of Washington to resolve the copper-mining company's massive environmental liabilities. Company officials said that Asarco has asked the US Bankruptcy Court in Corpus Christi, TX, which is overseeing its bankruptcy case, to approve the settlement, which resolves $135 million in claims filed against the company. Under the terms of the deal, the state of Washington and the Port of Everett will receive a $38 million unsecured claim in the bankruptcy case. The actual amount they'll get won't be known until Asarco determines the recoveries for creditors as part of its bankruptcy exit plan. [YAHOO: SMELTER POLLUTION]
Published on Feb-25-08
As part of a settlement reached, Asarco LLC has reached a $38 million deal with the state of Washington to resolve the copper-mining company's massive environmental liabilities. Company officials said that Asarco has asked the US Bankruptcy Court in Corpus Christi, TX, which is overseeing its bankruptcy case, to approve the settlement, which resolves $135 million in claims filed against the company. Under the terms of the deal, the state of Washington and the Port of Everett will receive a $38 million unsecured claim in the bankruptcy case. The actual amount they'll get won't be known until Asarco determines the recoveries for creditors as part of its bankruptcy exit plan. [
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