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Group: bankrupt chemical maker owes another $9 billion



A pressure group named Council for Education and Research on Toxics (CERT) is trying to intervene in the bankruptcy proceedings of a large chemical additives maker named Chemtura to argue that the company owes a future $9 billion over the lingering environmental effects of the flame retardant PBDE, which was withdrawn from the market in 2004. The company says CERT is neither a creditor nor a lawful plaintiff. Bloomberg: "The Middlebury, Connecticut-based company faces more than $2 billion in claims from the U.S. and state governments for environmental liabilities, along with 375 claims of injuries from diacetyl, a chemical used to flavor popcorn."

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.