EPA Sues Over Tronox Bankruptcy

EPA and the U.S. Attorney for the Southern District of New York have filed suit against Anadarko Petroleum and Kerr-McGee for allegedly trying to avoid hundreds of millions of dollars in environmental liabilities in connection with Kerr-McGee's spin off of the titanium dioxide producer Tronox in 2006. The government claims that assets were stripped out of Kerr-McGee that could have helped pay environmental debts. Tronox filed for bankruptcy in January. Last month, Tronox sued former parent Kerr-McGee and Anadarko, which acquired Kerr-McGee in 2006, on similar grounds. At the time, Anadarko said it was not responsible for Tronox' financial condition.