[Federal Register: November 6, 2003 (Volume 68, Number 215)]
[Notices]
[Page 62829-62830]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06no03-67]
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DEPARTMENT OF JUSTICE
Notice of Filing of Environmental Bankruptcy Settlement in In re
Fansteel, Inc. et al.
Notice is hereby given that a proposed settlement entered into by
the United States, on behalf of the Environmental Protection Agency
(``EPA''), the Department of the Navy (``Navy''), the Department of the
Interior (``DOI'') and the National Oceanic and Atmospheric
Administration (``NOAA''), and Fansteel, Inc. (``Debtor'') was filed on
September 18, 2003, in In re Fansteel, Inc. et al., No. 02-10109 (Bank.
D. Del.) with the United States Bankruptcy Court for the District of
Delaware. The proposed settlement is contained in Article XIII(C) of
the Debtor's proposed Plan of Reorganization (``Plan'') and would
resolve certain claims of the United States against the settling party
under the Comprehensive Environmental Response Compensation and
Liability Act (``CERCLA'') 42 U.S.C. 9601 et seq., relating to the
following locations: (1) The Vulcan Louisville Smelter Site/Vacant Lot
Site (``Vacant Lot Site''); (2) Pettibone Creek; and (3) the Naval
Station Great Lakes including the boat basin, inner harbor, and the
outer harbor (``NAVSTA Great Lakes'') all in North Chicago, Lake
County, Illinois.
Under the settlement, Reorganized Fansteel will contribute
$1,600,000 to North Chicago, Inc. (``NCI''), a wholly-owned subsidiary
of Fansteel created under the Plan, to perform the response action
selected by the EPA (``North Chicago Response Action'') at the real
[[Page 62830]]
property owned by Fansteel, which is a portion of the Vacant Lot Site
(``North Chicago Facility''). The Department of Defense, the General
Services Administration, the Department of Commerce, and the Department
of Treasury (``Federal Settling Agencies'') will contribute $425,000,
which funds will be used, if necessary, by NCI, with EPA oversight, to
clean up the North Chicago Facility following NCI's expenditure of the
$1,600,000. If the above is not sufficient, Reorganized Fansteel will
contribute an amount of up to an additional $500,000 to complete the
North Chicago Response Action. In the event that the City of North
Chicago, Illinois (``City'') exercises eminent domain with respect to
the North Chicago Facility before the cleanup is commenced, Reorganized
Fansteel and the City will contribute the requisite funds to perform
the North Chicago Response Action.
In addition, the EPA, Navy, DOI, and NOAA are granted an allowed
unsecured claim in the amount of $10,000,000, on account of which they
will receive a distribution of (1) Available General Unsecured Cash in
the amount of $100,000 (to be allocated among the Navy, NOAA, and the
DOI only) and (2) 50% of certain insurance proceeds received by
Reorganized Fansteel. The proposed settlement would be implemented
through a Consent Decree in conformance with the settlement terms
described in the proposed Plan. The Plan also grants the EPA allowed
general unsecured claims related to the Old Southington Superfund Site
in Southington, Connecticut; the PCB Treatment Inc. Superfund Site in
Kansas City, Kansas and Kansas City, Missouri; the Li Tungsten
Superfund Site in Glen Cove, New York; and the Operating Industries,
Inc. Superfund Site in Monterey Park, California.
The hearing on whether to confirm the Plan is set for November 17,
2003. Comments relating to the proposed settlement must be received by
the Department of Justice by close of business November 14, 2003.
Comments may be addressed to the Assistant Attorney General of the
Environment and Natural Resources Division, Department of Justice and
sent by any of the following methods: (1) Telefax or e-mail to Richard Gladstein (richard.gladstein@usdoj.gov), fax no. (202) 514-8395, phone
confirmation number (202) 514-1711; or (2) first class mail to P.O. Box
7611, Ben Franklin Station, Washington, DC 20044, and should refer to
In re Fansteel, et al., D.J. Ref. No. 90-10-07797/1. Copies of the
proposed settlement may be examined at the Office of the United States
Attorney for the District of Delaware, 1201 Market Street, Suite 1100,
Wilmington, DE and the Region V Office of the United States
Environmental Protection Agency, 77 West Jackson Street, Chicago,
Illinois 60604. During the public comment period, the settlement may be
viewed on the following Department of Justice Web site, http://www.usdoj.gov/enrd/open.html.
A copy of the settlement also may be
obtained by mail from the Consent Decree Library, P.O. Box 7611, U.S.
Department of Justice, Washington, DC 20044-7611, or by faxing or e-mailing a request to Tonia Fleetwood (tonia.fleetwood@usdoj.gov), fax
no. (202) 514-0097, phone confirmation number (202) 514-1547. In
requesting a copy from the Consent Decree Library, please enclose a
check in the amount of $21.75 (25 cents per page reproduction cost)
payable to the U.S. Treasury.
Thomas A. Mariani, Jr.,
Assistant Chief, Environmental Enforcement Section, Environment and
Natural Resources Division.
[FR Doc. 03-28018 Filed 11-4-03; 2:38 pm]
BILLING CODE 4410-15-M