[Federal Register Volume 62, Number 32 (Tuesday, February 18, 1997)]
[Notices]
[Pages 7255-7256]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-3826]


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DEPARTMENT OF JUSTICE

Notice of Lodging of Consent Decrees Pursuant to the 
Comprehensive Environmental Response, Compensation, and Liability Act 
of 1980, as Amended

    Consistent with Departmental policy, 28 C.F.R. 50.7, notice is 
hereby given that on February 6, 1997, a proposed Settlement Agreement 
of Environmental Claims and Issues (``Settlement Agreement'') in In re 
Metallurgy, Inc. and Shieldalloy Metallurgical Corporation, Bankr. Nos. 
93 B 44468 (JLG) and 93 B 4446 (JLG), was lodged with the United States 
Bankruptcy Court for the Southern District of New York. This proposed 
Settlement Agreement resolves the United States' claims under the 
Comprehensive Environmental Response, Compensation, and Liability Act, 
42 U.S.C. 9601 et seq., on behalf of the U.S. Environmental Protection 
Agency (``EPA'') and the Department of Interior (``DOI''), and under 
the Resources Conservation and Recovery Act, as amended, 42 U.S.C. 
6901, et seq. (``RCRA''), on behalf of EPA, relating to Shieldalloy's 
facilities in Cambridge, Ohio (the ``Cambridge Site'') and Newfield, 
New Jersey (the ``Newfield Site''). The Settlement Agreement also 
resolves claims with respect to licensing fees incurred by the Nuclear 
Regulatory Commission (``NRC'') pursuant to the Atomic Energy Act of 
1974, as amended, 42 U.S.C. 2011, et seq.
    As part of this Settlement Agreement, Shieldalloy and Metallurg 
will post approximately $22 million in cash and/or letters of credit to 
assure the completion of the Newfield Site cleanup which is currently 
in progress pursuant to an administrative order issued by the State of 
New Jersey. Shieldalloy and Cyprus Foote Mineral Company, the prior 
owner of the Cambridge Site, will also post approximately $11 million 
in cash, letters of credit, and an annuity to assure the completion of 
the cleanup of the Cambridge Site which is currently in progress 
pursuant to a consent order entered into between the State of Ohio and 
Shieldalloy.
    In addition, the United States' claims against Shieldalloy for 
unreimbursed pre-petition response costs incurred at both Sites will be 
allowed as general unsecured claims (in the amount of $178,192.92 at 
the Newfield Site and $41,562.35 at the Cambridge Site), and the United 
States' claims against Shieldalloy for unreimbursed post-petition 
response costs incurred at the Sites will be allowed as administrative 
claims (in the amount $191,177.23 at the Newfield Site and $108,046.73 
at the Cambridge Site). The Settlement Agreement also resolves the 
United States' claims for natural resource damages at the Sites. 
Shieldalloy will remediate wetlands present on the Newfield Site and 
create approximately 10 acres of wetlands in and around the Newfield 
Site. Shieldalloy will enhance, restore and/or preserve approximately 
40 to 45 acres of wetlands in the vicinity of the Cambridge Site. The 
United States will also receive, on behalf of DOI, an allowed 
administrative claim in the amount of $4,714.67 for post-petition

[[Page 7256]]

natural resource damages assessment costs.
    The United States will also receive a $497,000 allowed general 
unsecured claim for a RCRA civil penalty claim. The NRC will receive a 
general unsecured claim for its pre-petition licensing fees.
    The Department of Justice will receive for a period of thirty (30) 
days from the date of this publication comments relating to the 
proposed Settlement Agreement. The proposed Settlement Agreement may be 
examined at the Office of the United States Attorney, 100 Church St., 
19th Floor, New York, New York 10007, at the Region II office of the 
Environmental Protection Agency, 290 Broadway, New York, New York 
10007-1866, and at the Consent Decree Library, 1120 G Street, N.W., 4th 
Floor, Washington, D.C. 20005 (202) 624-0892. A copy of the proposed 
Settlement Agreement may be obtained in person or by mail from the 
Consent Decree Library, 1120 G Street, N.W., 4th Floor, Washington, 
D.C. 20005. In requesting a copy, please enclose a check (there is a 25 
cent per page reproduction cost) in the amount of $13.00 for the 
Settlement Agreement payable to the Consent Decree Library.
Joel M. Gross,
Chief, Environmental Enforcement Section, Environment and Natural 
Resources Division
[FR Doc. 97-3826 Filed 2-14-97; 8:45 am]
BILLING CODE 4410-15-M