Kerr-McGee Expert Says Tronox Was Solvent At Spinoff

Law360, New York (August 7, 2012, 6:34 PM EDT) -- The latest witness to testify in Tronox Inc.'s $25 billion fraudulent transfer suit against former parent Kerr-McGee Corp. over legacy environmental liabilities was an expert who sought Tuesday to refute Tronox's claim that it was insolvent at the time of its 2006 spinoff.

Daniel Fischel, a University of Chicago professor and president of economic consulting firm Compass Lexecon, testified in New York bankruptcy on behalf of Kerr-McGee. He said that, contrary to what experts for the plaintiff testified, the company that would ultimately become Tronox not...
To view the full article, register now.