A Quagmire of Obligations: Making Sense of the Intersection of CERCLA and the Bankruptcy Code
The Bankruptcy Strategist
May 2008
The article discusses the largest environmental bankruptcy case ever filed, In re ASARCO, LLC, et al. It summarizes the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), and addresses the scope of the debtor's liability for cleanup costs, discharge of the debtor's obligations to clean up contaminated property, abandonment of contaminated property, treatment of contingent PRP reimbursement and contribution claims.