A federal agency has stepped in to pay almost all of a $36 million shortfall in pension benefits for current and future retirees of Vertellus Specialties Inc., an Indianapolis-based manufacturer that is working its way through a Chapter 11 bankruptcy.
A federal bankruptcy judge approved the sale of Indianapolis-based chemical company Vertellus Specialties Inc. on Thursday after the U.S. Environmental Protection Agency withdrew its objection to the sale.
The U.S. Environmental Protection Agency on Wednesday added an 18-acre contaminated groundwater site on the west side of Indianapolis to the National Priorities List of Superfund sites. The site has the potential to contaminate water for thousands of residents.
Indianapolis-based Vertellus Specialties Inc. is at odds with the U.S. Environmental Protection Agency over whether a proposed $454 million sale of the chemical company will provide adequate resources to address environmental cleanup needs.