BANKRUPTCY REFERRAL - NATIONAL BANKRUPTCY SETTLEMENT
On September 12, 2008, the U.S. District Court for the Southern District of New York entered a settlement between the United States and Dana Holding Corporation. (In re Dana Corporation, et al., Case No. 07-8160, S.D.N.Y.) The settlement resolves EPA's bankruptcy claims against Dana Corporation and its subsidiaries for Dana's share of response costs at six Superfund sites in Regions 1, 2, 5, and 7, and for Clean Water Act and Superfund civil penalties at two Dana facilities in Region 5. The EPA allowed claim amount in the settlement is $122,550,252 for these sites and facilities. Of this amount, most is for two Superfund sites currently undergoing extensive cleanups: $97,590,000 for the Cornell Dubilier Electronics Superfund Site in New Jersey; and $28,685,250 for the Hastings Superfund Site in Nebraska. The settlement also includes an allowed claim for the Federal Natural Resource Trustees of $3,120,000 for natural resource damages at the CDE Site.