Amcast disclosure statement draws EPA objection

By Caroline Salls

Pittsburgh, June 6 - Amcast Industrial Corp.'s disclosure statement for its plan of reorganization drew objection from the U.S. Environmental Protection Agency, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of Ohio.

The agency said some provisions of the statement would allow Amcast to abandon property, including contaminated property.

"However, the disclosure statement does not provide rudimentary information about how these provisions will be utilized, such as which property the [company] intends to abandon, whether [Amcast intends] to seek to abandon property that are subject to or related to environmental regulatory action or enforcement, whether contaminated property will be left behind from restructuring or liquidations and how [Amcast intends] to ensure that these facilities comply with environmental requirements," the filing added.

The EPA said bankruptcy laws "should not be used to place reorganized debtors above the law, leaving the public at risk without the protection of important public health and safety laws."

A hearing on approval of the disclosure statement is scheduled for Thursday.

Amcast, a Dayton, Ohio, manufacturer of plumbing and auto components, filed for Chapter 11 on Nov. 30, 2004. Its case number is 04-40504.

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