Dupont Settlement Agreement

In addition to the comparative costs of $US 670.7 million, DuPont and Chemours could pay up to $25 million per year for the next five years, or an additional $250 million at that cap, Chemours said in a statement. On February 13, 2017, a total transaction of $670 million was completed with our team of lawyers and DuPont. The agreement covers all C8 cases that were filed at that time in federal court, in which the claimant suffered a covert assault that resulted in C8 being thrown into the Ohio River and into the air at the DuPont plant in Parkersburg, West Virginia. At the end of the five-year transaction cost-sharing, Chemours` indemnification commitments under the separation agreement will be “kept unchanged” and DuPont will have no obligation to fund PFOA`s costs, according to a Statement from DuPont. When Chemours was relocated from DuPont, the companies agreed that DuPont should first pay damages, but that it could claim compensation from Chemours. The proposed transaction, which has been submitted to the U.S. District Court for the Southern Texas, is subject to a 30-day period of public comment and final court approval. Information on the comments is available from the Ministry of Justice. The additional $25 million will be used to pay for liabilities not covered by the transaction. As part of a class action against DuPont, an independent panel of public health scientists was selected to assess whether or not there is a likely link between C8 exposure and various diseases.

“I think it`s wise to look forward to some time after the deal,” Eggen said. “There will be people who will claim, and that`s what`s going to happen.” PARKERSBURG (P.S.) A U.S. $670.7 million deal has been reached following the C8 lawsuits pending against DuPont, officials said Monday. Arnold said investors were reacting positively to the comparison because it resolves many of Wall Street`s concerns about DuPont and Chimiours. He added that, given the size of the two companies, a payment of $US 335 million for their final result should be considered almost negligible. “Until this announcement, no cheques have been written and no compensation has been paid,” said Harold Bock, a member of the group. “People who have already had their days in court, including Carla Bartlett, David Freeman and Kenneth Vigneron, have blocked their honours in appeals. For DuPont and Chemours, who have shamelessly delayed this crisis for decades, it`s time to make this comparison offer without further delay.¬†On 28 February 2005, the Tribunal held a hearing to allow all persons and parties concerned to present the comparison and any objection, objection or other information concerning the final transaction. . . .


Comments are closed.