By Jeff Montgomery (June 28, 2019, 9:38 PM EDT) -- Chemours Co. has opened a potentially multibillion-dollar suit against DowDuPont Inc. and affiliates for "massively" understating environmental cleanup indemnification burdens as part of the Chemours spinoff in 2015, in a Delaware Chancery Court complaint unsealed late Friday.
The eight-count complaint — ordered to be made public after intense opposition from DuPont — alleges that Chemours would have been insolvent at the time of its spinoff had DuPont disclosed the full extent of the liabilities it was handing off as part of the deal. Instead, Chemours claims, DuPont wrote "systematically and spectacularly wrong" upper limits into the environmental baggage it was handing...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!