AMICUS AI
Citation Codes
Equivalent Citations
citation codes
Docket Number
Are you a practicing lawyer?
Enhance your digital presence and reach by creating a Casemine profile.
Upload pleading to use the new AI search
Cites
Cited by
Citation Codes
Equivalent Citations
citation codes
Docket Number

IN RE: WEIRTON STEEL CORPORATION, Chapter 11, Debtor.

ORDER OF COURT

L. FRIEND, Bankruptcy Judge

Upon consideration of the Motion ("Motion") of the Weirton Steel Corporation Liquidating Trustee (the "WSCLT Trustee") for an Order Pursuant to Rule 9019 of the Federal Rules of Bankruptcy Procedure Approving Compromise and Settlement with the West Virginia Department of Environmental Protection (the "WVDEP"), an agency of the State of West Virginia, and Shiloh River Corporation ("Shiloh"), a West Virginia corporation; due and proper notice of the Motion having been given; and it appearing that the terms of the Settlement Agreement are reasonable and fair in light of the particular circumstances of this case, that such terms fall within the reasonable range of litigation possibilities, and that the WSCLT Trustee's decision to settle and compromise the matters addressed in the Motion and the Settlement Agreement is an exercise of reasonable business judgment; it is hereby ORDERED that:

1. Undefined capitalized terms used herein shall have the meanings ascribed to such terms in the Motion.

2. The Settlement Agreement attached to the Motion is approved in all respects.

3. In full and final payment and satisfaction of all claims of the WVDEP related to the Shiloh Landfill in the bankruptcy proceedings of Weirton, Weirton shall pay the WVDEP a cash payment of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000) as an allowed administrative priority claim within three business days following the date the entry of this Order has become final and non-appealable, and which amount shall be placed in an interest bearing trust by the WVDEP and used with respect to the regulatory compliance, maintenance and reclamation of the Shiloh Landfill.

4. In full payment and satisfaction of all claims of the WVDEP may have or have had in the bankruptcy proceedings, except as not otherwise waived or released in paragraphs 6 and 8 of the Settlement Agreement, and specifically, in full payment and satisfaction of those post-petition stipulated penalty claims related to the Consent Decree in Civil Action 5:96-CV-171 (N.D.W.Va), WSCLT shall pay the WVDEP a cash payment of sixty-five thousand dollars ($65,000) (together with the $250,000 payment, the "Settlement Amount") as an allowed administrative priority claim within three business days following the date the entry of this Order has become final and non-appealable. Notwithstanding the ultimate status of the administrative solvency of the Weirton bankruptcy estate, no portion of the Settlement Amount shall be subject to recovery or disgorgement once paid.

5. Upon payment of the Settlement Amount, any and all claims against Weirton and/or WSCLT that the WVDEP has filed, or could in the future file against Weirton and/or WSCLT in Weirton's bankruptcy proceedings, shall be disallowed and expunged.

6. Within five (5) business days following receipt of the Settlement Amount, the WVDEP shall take all necessary action to dismiss the Sale Appeal, with each party to bear its own costs.

7. The Consent Judgment/Order of Dismissal, which dismissed the Board Appeal, entered into by the parties prior to the execution of the Settlement Agreement, is hereby approved.

8. Other than as specifically provided in the Settlement Agreement, with respect to the Shiloh River Landfill, upon payment of the Settlement Amount, neither the WVDEP nor Shiloh will seek other or further payment from WSCLT for any claim of any kind or nature whatsoever arising from or relating to the Shiloh River Landfill; and with respect to all other claims, upon payment of the Settlement Amount, neither the WVDEP nor Shiloh will seek other or further payment from Weirton for any claim of any kind or nature whatsoever arising from or relating to Weirton.

9. Other than as specifically provided in the Settlement Agreement, the WVDEP forever releases and discharges Weirton, its bankruptcy estate, its current and/or former officers, directors, agents, employees, its authorized agent, WSCLT and the liquidating trustee from any and all obligations, claims, causes of action, joinders for sole liability, contribution, indemnity or otherwise, damages, costs, expenses or demands of any kind whatsoever at law or equity which the WVDEP ever had, now has or may have hereinafter relating in any way to matters over which the WVDEP exercises jurisdiction, control, enforcement power or has standing to participate related to Weirton.

10. Other than as specifically provided in the Settlement Agreement, Shiloh, its successors and assigns, forever releases and discharges to the extent that Shiloh has any authority to do so) Weirton, its bankruptcy estate, its current and/or former officers, directors, agents, employees, its authorized agent, WSCLT and the liquidating trustee from any and all liability, claims, causes of action, joinders for sole liability, contribution, indemnity or otherwise, damages, costs, expenses, or demands of any kind whatsoever at law or equity which Shiloh ever had, now has or may have hereinafter relating in any way to matters involving the Shiloh River Landfill.

11. WSCLT forever releases and waives any and all claims of Weirton and/or WSCLT of any kind whatsoever at law or equity against the WVDEP which Weirton and/or WSCLT ever had, now has or may have hereinafter related to the Shiloh Landfill.

12. WSCLT forever releases and waives any and all claims of Weirton and/or WSCLT of any kind whatsoever at law or equity against Shiloh, its successors and assigns which Weirton ever had, now has or may have hereinafter relating in any way to matters involving the Shiloh Landfill excepting any liabilities arising from the illegal disposal of waste by Shiloh at the Shiloh River Landfill (i.e., the disposal of hazardous waste (as defined at the time of disposal).

13. The WSCLT Trustee is authorized to execute, deliver, and implement any and all documents, fully perform any and all obligations, and take any and all actions, reasonably necessary or appropriate to effectuate the Settlement Agreement without further Order of Court.

14. This Court retains jurisdiction to enforce and implement the terms and provisions of this Order, the Settlement Agreement, all amendments thereto, any waivers and consents thereunder, each of the documents executed in connection therewith in all respects, and any and all disputes related to the aforementioned.

Use AI to get other relevant cases.

Comments

IN RE WEIRTON STEEL CORPORATION
(Feb 1, 2005)