Anadarko Says Settlement Unlikely In Tronox Enviro Suit

Law360, New York (August 8, 2012, 8:47 PM EDT) -- Anadarko Petroleum Corp. on Wednesday brushed aside the possibility of a settlement in the $25 billion fraudulent transfer suit that bankrupt Tronox Inc. brought against Anadarko and Kerr-McGee Corp. over environmental liabilities.

In a quarterly filing with the U.S. Securities and Exchange Commission, Anadarko said its recent attempts to resolve the dispute through mediation have "reached an impasse," and the likelihood of a settlement is remote. The company expressed confidence that it will prevail in this litigation.

"The company does not believe a loss resulting from...
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