Settlement Finalized in Relation to the Maxus Energy Corporation Bankruptcy Case
September 7, 2023
On June 1, 2023, the District Court for the District of Delaware approved of a Settlement and Release entered into by the Maxus Liquidating Trust (“Trust”) and YPF S.A., YPF International S.A. (f/k/a YPF International Ltd.), YPF Holdings, Inc., and YCLH Holdings, Inc. (f/k/a CLH Holdings, Inc.), Repsol, S.A., Repsol Exploracio´n, S.A Repsol USA Holdings LLC, Repsol E&P USA LLC, Repsol Offshore E&P USA Inc., Perenco Trinidad & Tobago (Holdings) ETVE SLU (f/k/a Repsol E&P T&T Limited), and Repsol Services Company.
As a result of the settlement, an estimated $81 million will be available to the natural resource federal trustee agencies (NOAA and U.S. Dept. of the Interior) for assessment and restoration of injured natural resources in the Lower Passaic River-Greater Newark Bay, NJ in connection with the Diamond Alkali Site (Lower Passaic River, NJ).
More information is provided in the Federal Register Notice published April 13, 2023, which sought public comment, and the Lower Passaic River and Greater Newark Bay Natural Resource Damage Assessment case page. No comments were received.