BOSTON – Attorney General Martha Coakley last week filed a joint motion to approve a $366.25 million settlement with AVX Corp.
The motion to enter a supplemental consent decree was filed with the federal District Court in Massachusetts. After announcing the settlement with AVX in October, the AG’s office, along with the Mass. Department of Environmental Protection, Department of Justice and U.S. Environmental Protection Agency carefully reviewed and considered public comments prior to filing motion.
If approved, the settlement will expedite the cleanup of polychlorinated biphenyl (PCB) contamination and achieve cleanup goals within five to seven years, rather than 40 years under current funding levels.
In the event the federal court approves the “cash-out” agreement with AVX Corp, a total of $366.25 million, plus interest, will be paid to the United States and the commonwealth to provide more than 90 percent of estimated funding needed to complete the PCB cleanup at the New Bedford Harbor Superfund site. •