Mealey's Toxic Tort/Environmental - Insurer Proposes Settlement In W.Va. Bankruptcy Court For Elk River Spill Claims

Mealey's Toxic Tort/Environmental - Insurer Proposes Settlement In W.Va. Bankruptcy Court For Elk River Spill Claims

CHARLESTON, W.Va. - According to a June 24 motion to approve a settlement filed in the U.S. District Bankruptcy Court for the Southern District of West Virginia, an insurer and its bankrupt insured responsible for a January 2014 spill of 4-methylcyclohexane methanol into West Virginia's Elk River have agreed to a settlement in which the insurer will buy back an excess policy for $2 million and pay for covered losses unrelated to the spill up to $1 million (In re: Freedom Industries Inc., No. 14-20017, S.D. W.Va. Bkcy.).

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