Tronox Wins OK For Environmental Settlement

Law360, New York (January 18, 2011, 3:23 PM EST) -- A federal judge has approved a crucial environmental settlement in Tronox Inc.'s bankruptcy, requiring the pigment maker to pay $270 million in cash plus most of the proceeds from a lawsuit over an ill-fated spinoff deal and allowing for the delisting of company stock.

Judge Allan Gropper granted the company's request to enter into the environmental deal during a hearing Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, calling it a lynchpin for Tronox's reorganization plan, which was approved in November....
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