Senator Bob Smith discusses actions taken by an Argentinian state-owned oil company to discharge its Superfund obligations through bankruptcy proceedings.
Smith is the sponsor of a resolution, SR-107/AR-219, urging the New Jersey State Commission of Investigation to examine actions taken by YPF S.A., and its subsidiary Maxus Energy Corporation, to use United States bankruptcy proceedings in an apparent attempt to avoid responsibility for environmental liabilities related to the cleanup of the Diamond Alkali Superfund site, the Passaic River, and other Superfund sites in New Jersey. The resolution also calls on the United States Attorney General and the New Jersey Attorney General to investigate any potential violations of federal or State law.