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STXNEWS LATAM-Argentina's YPF to settle old environmental lawsuit in New Jersey
June 7, 2013 / 11:36 PM / in 5 years

STXNEWS LATAM-Argentina's YPF to settle old environmental lawsuit in New Jersey

Argentina’s state-controlled energy company, YPF , said its board of directors approved a $65 million cash payout to settle an old environmental dispute in the U.S. state of New Jersey. A lawsuit was brought against a U.S. chemical company that YPF later purchased for allegedly polluting the Passaic River and Newark Bay during several decades, starting in the 1940s. The New Jersey court will have to approve the settlement terms, YPF said in a statement to the Buenos Aires Stock Exchange. The case is New Jersey Department of Environmental Protection, et al v. Occidental Chemical Corporation, et al. Reuters Messaging: hilary.burke.thomsonreuters.com@reuters.net

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