Interesting story in the Brooklyn Paper about a chemical company with plants in Red Hook that has agreed to help pay for part of the Superfund cleanup. Trouble is: the comapny is bankrupt. So how are they going to pay? Here’s an excerpt from the BP story:

A chemical company with two dirty Red Hook plants agreed this week to help foot the bill for the $1-billion Superfund cleanup of the Gowanus Canal — oh, but there’s one catch: the company is bankrupt.

Chemtura Corporation, a Connecticut-based specialty chemicals maker, agreed on Thursday to pay $3.9 million toward cleansing the fetid waterway, the Department of Justice announced.

No timetable was given for when Chemtura would pay, but the feds cheered the agreement — and said that they expect the sum to be “fully paid in cash.”