The settlement of Eastman Kodak Co. environmental claims, including creation of a trust to oversee environmental work at Eastman Business Park, was given final approval on Tuesday, the Rochester (N.Y.) Democrat & Chronicle reported yesterday. Bankruptcy Judge Allan Gropper, who presided over Eastman Kodak Co.'s chapter 11 case, signed an order creating an independent trust that will assume legal liability for existing environmental problems at the business park. Kodak will endow the trust with $49 million to pay for study, monitoring and cleanup at the park, while New York state has promised to supply an additional $50 million if needed. The two parties would split any costs beyond that. Federal environmental officials had balked at the agreement but later withdrew objections. Local, state and company officials said that the creation of a trust to ensure environmental issues were dealt with was key to further redevelopment of the park.
