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a view of the Passaic River from a concrete seawall, with trees bordering the river.
The Passaic River.

Settlement Proposed in Relation to the Maxus Energy Corporation Bankruptcy Case

April 17, 2023

On April 7, 2023, the Maxus Liquidating Trust (‘‘Trust’’) filed a motion with the United States Bankruptcy Court for the District of Delaware seeking approval of a Settlement and Release entered into by the 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.

More information, including proposed settlement amounts to NOAA and DOI related to natural resource damages claims in connection with the Diamond Alkali Site (Lower Passaic River, NJ), is provided through the Federal Register Notice published April 13, 2023.

The proposed settlement is available for public comment on the Department of Justice website. Comments must be submitted to the Department of Justice no later than 30 days after the publication of the Federal Register Notice of April 13, 2023.