In the News Upstream Online

Judge Approves Tronox Settlement

"Tronox won court approval of an environmental settlement and reached an agreement with Anadarko Petroleum Corporation, paving the way for the chemical maker to exit bankruptcy as soon as this month.

U.S. Bankruptcy Judge Allan Gropper in Manhattan today approved the settlement with the US Environmental Protection Agency, which sets aside $320 million from Tronox to cover environmental claims totalling as much as $5 billion.

Jonathan Henes, a lawyer for Tronox, told Gropper that the Oklahoma City-based company agreed to give Anadarko a $29 million claim in its case, Bloomberg reported."

This article appeared in its entirety in the January 18, 2011 edition of Upstream Online.