[Federal Register Volume 68, Number 215 (Thursday, November 6, 2003)]
[Notices]
[Pages 62829-62830]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-28018]


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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 ([email protected]), 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 ([email protected]), 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