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Of Bankruptcy and Superfund and other environmental laws - PowerPoint PPT Presentation


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Of Bankruptcy and Superfund and other environmental laws. THIS IS WHAT A DIP LOOKS LIKE. Foundational Principles. Environmental Law Bankruptcy Law.

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foundational principles
Foundational Principles
  • Environmental Law
  • Bankruptcy Law
slide5
Lyondell Leaves Kalamazoo Poisoned as Bankruptcies Mar Cleanups (Bloomberg) -- Environmentalist Jeff Spoelstra says an 80-mile stretch of the Kalamazoo River that runs through toxin-laced land in southwestern Michigan was on its way to becoming safe again. The area, once home to Potawatomi Indians and Dutch celery farmers, was finally on the verge of getting cleaned up.

Then, in January 2009, Lyondell Chemical Co. filed for bankruptcy protection. The Houston-based petrochemical giant argued in court that as it reorganized, it could avoid what the U.S. Environmental Protection Agency said were about $2.5 billion in cleanup costs for the river, which flows into Lake Michigan, and another $2.5 billion in liabilities at 10 other polluted spots across the country. The filing threw the EPA’s plan into turmoil, Bloomberg Markets magazine reports in its May issue.

key concepts
Key Concepts
  • Definitions
    • Claim
    • Pre-petition
    • Discharge
  • Alternate right to payment
    • Apex case
  • Debtor-owned
    • In re Chateaugay