Distribution of Conoco Settlement
In The News
Distribution of Conoco Settlement
Source: WEAR | Release Date: 4/6/2004
A court will decided how to distribute 70-million dollars to defendants in the settlement of a superfund lawsuit.
Conoco-Phillips, which owns the old Agrico Chemical Company off Fairfield Drive, has agreed to settle the case rather than going to court.
Attorneys sued the company over contamination that spread from the site in underground toxic-plume.
Money will be divided up among seven-thousand people who are present and past property owners in areas affected by the plume.
A judge will appoint a special master who will decided how the money will be split.
((Proctor: "The purpose of the special master is to take input from us and to take some input from the defendants to determine a fair and just allocation system for the total money."))
Providing there are no legal tie-ups... Proctor says the defendants in the case should start receiving payments by mid fall.
