Tronox Court Sheds More Light On Legacy Liabilities

Law360, New York (January 9, 2014, 6:22 PM EST) -- On Dec. 12, 2013, in a 166-page opinion, Bankruptcy Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York held that Kerr-McGee Corporation was liable for between $5.1 billion and $14.5 billion in damages as a result of various fraudulent transfers occurring several years before Tronox Inc. and certain of its affiliates filed for bankruptcy. See Tronox Inc. v. Kerr-McGee Corp. (In re Tronox Inc.), Adv. Proc. No. 09-1198 (ALG), (Bankr. S.D.N.Y. Dec. 12, 2013). The fraudulent transfer claims, which...
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