Tronox Seeks To Shed Enviro Liabilities In Ch. 11 Plan

Law360, New York (July 8, 2010, 5:53 PM EDT) -- Bankrupt chemical company Tronox Inc. has filed a reorganization plan that would trim its debt to no more than $517 million and set up an environmental trust to handle potentially billions of dollars worth of environmental liabilities.

The plan, filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, would repay secured creditors in full and allow holders of about $470.6 million in unsecured claims to recover at least 80 percent of their claims.

It also would set up a trust to...
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