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Chemical Week Magazine :: Basic Chemicals & Plastics
Tronox, Anadarko Litigation Pauses for Settlement Talks
8:12 AM MDT | July 20, 2012 | —Lindsey Bewley
The U.S. Bankruptcy Court for the Southern District of New York halted a trial between Tronox and Anadarko Petroleum (The Woodlands, TX) after the two parties told the judge they were engaged in settlement talks. The trial began in May, with Tronox seeking $25 billion in an environmental suit stemming from its spin-off from Kerr-McGee, which is now owned by Anadarko. Tronox alleges the spin-off left them with more than 70-years worth of environmental liabilities, totaling an estimated $400 million–$700 million. Tronox’s creditors and the U.S...
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