SINCE 1976, VERTAC HAS OWNED A 92.7 ACRE MANUFACTURING SITE LOCATED IN JACKSONVILLE. UNTIL MAY 1980, VERTAC MANUFAC- TURED PESTICIDES/HERBICIDES AT THAT SITE INCLUDING 2,4,5-T AND 2,4-D. IN 1980, THE US INITIATED A CIVIL ACTION IN THE US DISTRICT COURT, EASTERN DIST OF ARKANSAS, WESTERN DIV AGAINST VERTAC AND HERCULES, INC., A PRIOR OWNER OF THE JACKSONVILLE SITE, PRIMARILY PURSUANT TO CWA, 33 USC 1311, 1342, AND 1319. THE COMPLAINT REQUESTED CIVIL PENALTIES AND APPROPRIATE INJUNCTIVE RELIEF, INCLUDING THE ABATEMENT WHICH CREATED AND WERE CREATING AN IMMINENT AND SUBSTANTIAL ENDANGERMENTTO HEALTH AND THE ENVIRONMENT. THE STATE OF ARKANSAS, THROUGH THE ARKANSAS DEPT OF POLLUTION & ECOLOGY (ADPC&E), FILED A SIMILAR LAWSUIT AND THE TWO CASES WERE CONSOLIDATED. * IN 1982, A CONSENT DECREE WAS ENTERED IN THE ABOVE DESCRIBED CASE. THIS DECREE WAS NEGOTIATED BY THE US, ADPC&E, VERTAC AND HERCULES, INC. AND REQUIRED, IN PART, THAT VERTAC COMPLY COMPLY WITH SPECIFIED HAZARDOUS WASTE MANAGEMENT STANDARDS AND REMEDIATE SPECIFIED ENVIRONMENTAL CONDITIONS AT THE SITE. THE DECREE WAS BINDING UPON VERTAC'S OFFICERS AND AGENTS. PURSUANT TO THE DIST COURT'S ONGOING JURISDICTION UNDER THE CONSENT DECREE, THE US, ADPC&E AND VERTAC SIGNED A STIPULATION ON JULY 15, 1987 WHICH PROVIDED THAT THE US AND ADPC&E WOULD NOT OPPOSE A CORPOR