Anadarko-Tronox trial resumes

On trial: Anadarko and Tronox

related stories

News Wires

 24 July 2012 22:59 GMT

A trial between oil and gas producer Anadarko Petroleum and a trust for paint-materials company Tronox resumed on Tuesday after the sides failed to settle their $25 billion dispute over environmental clean-up costs.

Anadarko, the defendant, was expected to call witnesses, starting with Joseph Flake, a former vice president at Kerr-McGee, the company now owned by Anadarko that created Tronox through a 2005 spin-off, Reuters reported.

Tronox, which went bankrupt in 2009 and emerged last year, established a trust to pay billions of dollars in environmental clean-up claims at more than 2000 polluted locations. The trust's main asset is the lawsuit against Anadarko, and money to fund the trust will come from any proceeds of that litigation.

The trust says Anadarko is liable for the clean-up costs. It argues that the Tronox spin-off was fraudulent…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index