EPA v. Dana Corporation (NC)(Lead)

Case summary

Dana Corporation filed for bankruptcy protection under Chapter 11. EPA filed a proof of claim in the Dana bankruptcy for costs that EPA has incurred and will incurred at the Cornell Dubilier Electronics Inc. ( CDE ) Superfund Site, of which Dana is a former owner. This was a multi-regional bankruptcy and the proof of claim also included several other sites in other regions. The estimated value of Region 2's claim was approximately $320 million. The United States reached a negotiated settlement with Dana for EPA's claim for the CDE Site to be an Allowed Claim against the bankruptcy estate of $97,590,000. The claim will be compensated with a distribution of stock in the reorganized Dana, now known as Dana Holding Corp., which will be sold by the US Treasury, with EPA receiving the proceeds. The cash value of the stock will be considerably less than the amount of the Allowed Claim, but until the stock is sold EPA will not know the precise value of the settlement as it depends on the market value of the stock.

Defendants (1)

• Dana CorporationNamed in complaintNamed in settlement

Facilities (1)

• CORNELL DUBILIER ELECTRONICS INC.

  333 HAMILTON BLVD, SOUTH PLAINFIELD, NJ, 07080

  Registry ID: 110009300700

Statutes cited

• CERCLA 107A — Cost Recovery

Enforcement conclusions (1)

• Dana Corporation (NC)(Lead)entered 2008-09-12

  Primary law: CERCLA

Timeline (7 milestones)

• 2006-06-06Referred To Dept Of Justice
• 2006-07-13Enforcement Action Data Entered
• 2006-09-21Complaint Filed With Court
• 2008-06-18Final Order Lodged
• 2008-09-12Final Order Entered
• 2008-09-12Concluded
• 2015-02-10Enforcement Action Closed