Mealey's Bankruptcy - DOJ: Anadarko Subsidiaries To Pay $5.15B To Remedy Fraudulent Conveyance

NEW YORK - Kerr-McGee Corp. (New Kerr-McGee), a number of its affiliates and their parent company, Anadarko Corp., on April 3 agreed to spend $5.15 billion to resolve allegations brought by the U.S. government and a litigation trust that Kerr-McGee's predecessor (Old Kerr-McGee) fraudulently transferred assets to the company to evade its liability for debts, including its liability to remediate contamination at sites around the country, according to a filing in a New York bankruptcy court (In re: Tronox Inc. et al., No. 09-bk-10156, S.D. N.Y. Bkcy.).

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