Anadarko Released From Tronox Fraudulent Transfer Claim

Law360, New York (May 8, 2012, 9:43 PM EDT) -- A New York bankruptcy judge on Tuesday let Anadarko Petroleum Corp. out of former subsidiary Tronox Inc.'s fraudulent transfer claim in a $25 billion lawsuit over a spinoff that allegedly saddled the once-bankrupt pigment maker with massive environmental liabilities.

U.S. Bankruptcy Judge Allan L. Gropper agreed with Anadarko's argument that it never received any subsequent transfer of assets but rather kept them isolated in its Kerr-McGee Corp. entity, which is Tronox's former parent.

An attorney for Tronox had noted that in denying Anadarko's motion to dismiss...
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