The City of New York and National Grid NY oppose a settlement between Chemtura Corp. , the bankrupt Connecticut chemical maker, and the U.S. Environmental Protection Agency, saying it’s unfair and not in the public interest.
Workflow Management Inc. , a provider of promotional marketing services and printed business documents, filed a Chapter 11 petition late in the day on Sept. 29, possibly aiming to use cramdown on a holder of first- and second-lien debt who was blocking an out-of-court restructuring.
Chemtura Corp. , the bankrupt plastic-additives maker, expects to complete negotiations with most federal and state regulators over costs to clean up pollution by mid-July, a lawyer for the company said.
The grassy fields of a park in the gentrifying Red Hook section of Brooklyn are contaminated with PCBs at a level 110 times what New York environmental agencies consider safe, according to court records filed in a lawsuit against bankrupt Chemtura Corp.
New York City and National Grid NY oppose a settlement between Chemtura Corp. and the U.S. Environmental Protection Agency, saying it is unfair and not in the public interest. The settlement, which paves the way for Chemtura’s exit from bankruptcy, requires the chemical maker to clean up two sources of ongoing pollution to the Gowanus Canal under a related agreement, according to court documents filed today.