"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Monday, November 21, 2011

The Asarco El Paso Clean-up Trust has no fiduciary or contractual obligation to test for/remediate ANY of the illicit materials from the 1991-1998 haz-waste years

"Mike Casbon, who is based in Indiana with multi-national contractor ERM Inc., has spent much of the past 10 months in El Paso, Texas, helping oversee the demolition of a copper smelting facility that is spread out over 200 acres.

ERM hired Brandenburg Industrial Service Co., Chicago, as its demolition subcontractor for the project. Malcolm Pirnie, Highlands Ranch, Colo., was the lead remediation contractor....Casbon said the efforts of ERM, Brandenburg and others working on the project have provided a tremendous financial success for the Asarco site land trust. Rather than spending down the trust's $52 million cash reserves for the project, work done thus far has provided an additional $25 million to the trust's value."
http://www.cdrecycler.com/cdr1111-2011-cdr-forum.aspx

The Asarco El Paso Clean-up Trust has no fiduciary or contractual obligation to test for/remediate ANY of the illicit materials from the 1991-1998 hazardous-waste years; and, the "decontamination" consisted of powerwashing (i.e. no testing with XRF before sale).
The "Trust's Value" might not be 25$Million greater if the bankruptcy court had considered liability from the illicit hazardous waste contamination in the Paso del Norte... Those sales of "metals" might be profitable only because the Bankruptcy court has for some reason ignored the presence of the illicit wastes... and the costs of removing/disposing of those illegal materials from those "metals" before sale...

No comments: