Anadarko Loses Damages Cap Fight In $15B Tronox Suit

Law360, New York (January 20, 2012, 5:04 PM EST) -- A New York bankruptcy judge on Friday refused to cap damages in Tronox Inc.'s $15 billion lawsuit against former parent company Anadarko Petroleum Corp. over a spinoff that allegedly saddled it with massive environmental liabilities, saying there was no legal basis for capping them.

U.S. Bankruptcy Judge Allan Gropper said there was nothing in bankruptcy law nor case law supporting Anadarko's contention that potential damages for fraudulent transfer claims filed by Tronox's litigation trust should be limited to the value of unsecured claims under section 550(a)...
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