Defendant has filed for bankruptcy under Chapter 11. Defendant is a potentially responsible party under CERCLA Section 107 for costs incurred and to be incurred by EPA with regard to the Diamond Alkali Site, Lower Passaic River Study Area, Gowanus Canal Superfund Site, and Swope Oil Site. EPA handled this matter as a national case, filing a proof of claim for the three sites.
The Settlement Agreement resolves the United States' claims for the Diamond Alkali Site and Swope Oil Site. The Gowanus Canal Site claim is being addressed separately.
For the Diamond Alkali Site, EPA agreed to an allowed claim amount. Region 2 anticipates that the money received on account of this allowed claim will be placed into the Special Account for the Diamond Alkali Site and will be used by EPA in the performance of the focused feasibility study for the Lower Passaic River Study Area, and possibly additional site study/planning work. Exactly how the funds are used will depend on the timing of the bankruptcy distributions and the actual amount received by Region 2.
The Settlement Agreement for the Gowanus Canal Superfund Site was entered on December 7, 2010.