23 November 2010 23:34 [Source: ICIS news]
Most of the $270m would be placed in five environmental trusts for the cleanup of numerous sites across the country, most of which have been contaminated with hazardous substances or hazardous waste, the Environmental Protection Agency (EPA) said.
Non-cash assets, such as insurance and financial assurance assets worth at least $50m, including property in
Tronox would also pay 88% of its interest in pending litigation against Andarko and Kerr-McGee over allegations that those companies imposed years worth of legacy liabilities on Tronox, including environmental obligations, that made the TiO2 producer insolvent.
($1 = €0.73)
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