Related Federal Cases
- Google Hit with Antitrust Win in New York AG’s Suit · New Hampshire
- FDIC Appoints Five New Members to Advisory Committee on Community Banking · Mississippi
- FDIC ComE-IN Panel to Discuss CRA Modernization, Equity Issues · Washington
- James Leads Coalition Against Extremist SAVE America Act · New Mexico
- James Leads Push for Senate KOSA Bill Over House Version · New Mexico
GM Faces $773M Suit for Environmental Crimes
WASHINGTON – The United States, 14 states and the Saint Regis Mohawk Tribe have entered into a settlement agreement with Chapter 11 debtor Motors Liquidation Company (Old GM), formerly known as General Motors Corporation, to settle certain environmental liabilities.
The announcement was made by Gary G. Grindler, Acting Deputy Attorney General; Preet Bharara, U.S. Attorney for the Southern District of New York; Lisa Jackson, Administrator of the Environmental Protection Agency (EPA); and Department of Labor Secretary Hilda Solis, as co-chair of the White House Council on Auto Communities and Workers.
“This settlement holds accountable those responsible for contaminating certain properties and ensures they help transform these communities by supporting the necessary cleanup,” said Acting Deputy Attorney General Grindler.
Under the terms of the agreement, Old GM will pay approximately $641.4 million and will contribute additional non-cash assets (with an estimated value of $120 million) for the cleanup and administration of 89 properties and sites, 59 of which are known to have been contaminated with hazardous substances or waste.
More than half of the cleanup funds to be paid to the environmental response trust will be provided for the environmental remediation of sites in New York and Michigan. In New York, the General Motors-Central Foundry Division Superfund Site – aka Massena – in Saint Lawrence County, will receive approximately $120.8 million in dedicated cleanup funds.
The settlement agreement marks a new beginning by responsibly addressing hazardous waste contamination in impacted communities, and at the same time creates jobs to help clean up and return these sites to beneficial uses, officials said.
The funding provided under the settlement agreement, along with the properties that are currently owned by Old GM and certain other non-cash assets, will be placed in an environmental response bankruptcy trust to fund the cleanup and administration of the properties and their return to beneficial use.
Key Facts
- State: Federal
- Category: Environmental Crimes
- Source: DOJ Press Release ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News