TIFA REALTY, INC. ACQUIRED THE MILLINGTON PORTION OF THE ASBESTOS DUMP SITE IN 1998 DURING THE REMEDIAL ACTION. IT ACQUIRED THE PROPERTY FROM TIFA LTD. A SISTER COMPANY WHICH BOUGHT THE PROPERTY IN 1978 FROM NATIONAL GYPSUM CO. (NGC). NGC & ITS PREDECESSORS ON THE PROPERTY MANUFACTURED ASBESTOS PRODUCTS AND DISPOSED OF ASBESTOS CONTAINING WASTE ON THE PROPERTY. NGC INDEMNIFIED TIFA LTD FOR ENVIRONMENTAL DAMAGES BUT WENT BANKRUPT. EPA RECEIVED PARTIAL REIMBURSEMENT OF ITS SITE COSTS FROM NG'S BANKRUPT ESTATE. EPA IS SEEKING THE REMAINING UNREIMBURSED COSTS FROM TIFA REALTY, INC. THE CURRENT OWNER.
CD lodged and complaint filed in the U.S. District Court for the District of New Jersey on June 26, 2003.
(1) Superfund site which contained an uncontrolled landfill with asbestos waste from earlier operations involving the manufacture of asbestos-containing products. Remedy involved capping landfill, constructing wall at base of landfill to prevent slumping into adjacent Passaic River and O&M of cap. (2)Action for unreimbursed Past Costs at federal lead Superfund site. (3) US Navy brought in by defendant owner which allowed EPA to recover contribution from Navy.
Navy will pay and Tifa will pay in 5 equal installments plus 50% of the net proceeds from the future sale of property in Basking RIdge, NJ.