[Federal Register Volume 61, Number 13 (Friday, January 19, 1996)]
[Notices]
[Pages 1403-1404]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-600]
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DEPARTMENT OF JUSTICE
Lodging of Settlement Agreement and Release, Regarding Matters
Relating to Comprehensive Environmental Response, Compensation and
Liability Act and Other Environmental Statutes
In accordance with Departmental policy, notice is hereby given that
a proposed Settlement Agreement and Release (``Agreement'') in In re
Avtex Fibers Front Royal, Inc. (``AFFRI''), Bankr. No. 90-20290 (E.D.
Pa.), was lodged on December 11, 1995, with the United States
Bankruptcy Court for the Eastern District of Pennsylvania. The United
States has entered into the Agreement on behalf of the United States
Environmental Protection Agency (``EPA'').
[[Page 1404]]
The Agreement provides for certain textile spinning nozzles
(``jets''), having a precious metal content consisting of approximately
90% platinum, to be melted down, for the precious metal content to be
sold, and for the proceeds to be distributed to certain of Debtor's
creditors. Specifically, fifty percent of the proceeds of the sale
(following payments to the metal refining company, the Trustee, and
Trustee's counsel) will go to secured creditors and approximately 29%
and 21% of the net proceeds will go to the Commonwealth of Virginia and
the United States, respectively. There are six parties to the
Agreement, which resolves two contested motions and an adversary
action, and should result in the United States recovering between
$100,000 and $250,000 against its administrative expense claim in the
bankruptcy action. Further, the secured creditors will release their
liens on debtor's real estate, leaving EPA with the senior lien on the
realty, a 440-acre parcel.
The Department of Justice will receive, for a period of thirty (30)
days from the date of this publication, comments relating to the
proposed Agreement. Comments should be addressed to the Assistant
Attorney General for the Environment and Natural Resources Division,
Department of Justice, Washington, D.C. 20530, and should refer to In
re Avtex Fibers Front Royal, Inc., DOJ Ref. #90-11-3-372.
The proposed Agreement may be examined at the Office of the United
States Attorney, 615 Chestnut Street, Suite 1300, Philadelphia, PA
19106; the Region III Office of the Environmental Protection Agency,
841 Chestnut Building, Philadelphia, Pennsylvania 19107; 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 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 refer to the referenced case and enclose a check in the amount
of $18.25 (25 cents per page reproduction costs), payable to the
Consent Decree Library.
Joel M. Gross,
Section Chief, Environmental Enforcement Section, Environment and
Natural Resources Division.
[FR Doc. 96-600 Filed 1-18-96; 8:45 am]
BILLING CODE 4410-01-M
