Fraud Claims Preserved In Tronox Spinoff Fight

Law360, New York (April 1, 2010, 4:27 PM EDT) -- A bankruptcy court has allowed three key fraud claims to move forward in pigment producer Tronox Inc's lawsuit accusing its former parent company Kerr-McGee Corp. of fraudulently dumping enormous environmental liabilities on Tronox before spinning it off in 2006, ultimately causing Tronox's collapse.

Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York on Wednesday preserved three claims related to fraudulent transfer under Oklahoma law and the U.S. Bankruptcy Code in the adversary case Tronox filed last year against Kerr-McGee...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.