Tronox Atty Grills Kerr-McGee Adviser On Spinoff Plans

Law360, New York (May 24, 2012, 7:18 PM EDT) -- The financial adviser who drew a cartoon portraying Kerr-McGee Corp.'s pigment business as a flower being choked by a weed, representing the company's legacy environmental liabilities, took the stand Thursday in the second week of trial in Tronox Inc.'s $25 billion suit.

Chris Watson, then of Lehman Brothers Holdings Inc., testified about his role in advising Kerr-McGee ahead of its initial public offering of shares in pigment maker unit Tronox and subsequent spinoff of the company, with an attorney for the Anadarko Litigation Trust, which is...
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